On February 13th, Larry Harmon was charged with a number of counts referring to cash laundering, working an unlicensed cash transmitting enterprise, and conducting cash transmission with no D.C license. Harmon operated a bitcoin “tumbler” named “Helix” from 2014 to 2017. He additionally later based CoinNinja and Dropbit, each providers which can be acquainted many bitcoiners.
For this week’s difficulty, we determined to take a deeper take a look at the case to grasp the potential implications of the court docket’s choices and break down the variations between how Helix labored in comparison with different privateness options.
Sasha Hodder and Rafael Yakobi’s Bitcoin Fungibility, Mixing and The Authorized Limits on Sustaining Privateness highlights just a few of the totally different authorized definitions which can be essential to understanding the particular expenses introduced in opposition to Harmon. Within the conclusion of the article, they make an essential request of exchanges “to not deal with using CoinJoin in a bitcoin’s transaction historical past, with none exterior proof of wrongdoing, as proof of suspicious or legal exercise”. I wish to layer on to that request that each one providers, exchanges and platforms are clear in how they make choices that will sign a lack of fungibility of cash to their customers. This marks Sasha’s sixth contribution to Bitcoin Journal and Rafael’s first!
When you’re up to the mark with the specifics of the case, learn up on our workers author Colin Harper’s piece the place he offers his evaluation from the viewpoint as a bitcoiner with quotes from Harmon’s lawyer Charles Flood and Jesse Spiro, head of coverage at Chainalysis. Colin is just not a lawyer and doesn’t play one on Bitcoin Journal.
Within the third and remaining piece instantly commenting on the Harmon case, visitor contributor Peter C. Earle, analysis fellow on the American Institute for Financial Analysis, offers his ideas on what’s at stake. My favourite line: “We aren’t responsible and don’t concede any guilt by any means, by advantage of the straightforward undeniable fact that we personal or transact in cryptocurrencies.” That is Peter’s third contribution to Bitcoin Journal.
Larry’s household and authorized workforce have arrange a devoted website with details about the case and Larry’s involvement in Bitcoin: http://letlarrygo.com/
Exterior of the Harmon case, now we have one more returning contributor Giacomo Zucco the place he presents “A Treatise on Bitcoin and Privateness Half 1: A Match Made within the Whitepaper“, the primary of a two-part collection that serves as a superb primer on all issues privateness. Personally, I’m an enormous fan of this piece due to it’s depth with out introducing probably complicated ideas and terminology. Ship this one to everybody you realize who’s going to be asking about privateness assist this summer season. Giacomo’s first collection “Discovering Bitcoin” was comprises a few of my favourite articles from 2019, so verify that out, as nicely.