TWEETSTORM is an occasional feature on decentralize.today where we share threads , mostly from Twitter, that we think deserve a wider audience, some are informative, some educational, some amusing and others yet are controversial...we dig these out for you so you don't have to!

Justin Bons@Justin_Bons

1/7) Alexey Pertsev is still in jail after three months without any clear charges

He wrote open-source code to protect user's privacy through Tornado Cash

While Sam Bankman Fried still walks free after stealing billions from users

Regulators should reevaluate their priorities:

Justin Bons@Justin_Bons

2/7) Cryptocurrency was created to avoid the type of theft & fraud that SBF committed

Unfortunately, wherever blockchain touches the Fiat world; theft & fraud can still occur

This is why we need regulators to protect us from centralized exchanges & not decentralized exchanges!

Justin Bons@Justin_Bons

3/7) It is critical for regulators to understand this distinction

There is a big difference between Uniswap & Coinbase

My company, @cybercapital; should be regulated

Tornado Cash, a smart contract on the ETH blockchain, shouldn't!

The same goes for anything decentralized!

Justin Bons@Justin_Bons

4/7) This would help protect investors against centralized scams that pretend to be decentralized

If there is an admin key; it is centralized If the majority of the voting token supply is owned by a single individual; it is centralized

Neither was the case with Tornado Cash

Justin Bons@Justin_Bons

5/7) When it comes to centralized exchange,s regulators should also require blockchain-based proof of reserves

This utilizes blockchain technology in such a way that it proves solvency through transparency

This is how blockchain technology can also help regulators protect users

Justin Bons@Justin_Bons

6/7) I could be wrong about Alex Pertsev, as there might be information I am not privy to which could prove his guilt

However, based on what is publicly available, I do not think he deserves to be in jail

The prosecution is abusing the judge's lack of knowledge on this subject!

Justin Bons@Justin_Bons

7/7) Justice systems are complex & take time to develop jurisprudence around new subjects

This is also influenced by politics

So while we still live in a Fiat-dominated world, please do your part & vote

For whoever supports cryptocurrency in ways that help & not harm its users


Link to original tweet

https://nitter.net/justin_bons/status/1597326362984951808?s=12&t=YJ63wVkCsWpIA__79q9VpA


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