Lets be clear … A3 Finance are advocates for the privacy and transparency that crypto brings, but we also recognize the need for some regulation: anyone that stands in a space of no regulation need only to look at Celsius and BlockFi to see what can happen.
With this in mind, we welcome recent sanctions of the tornado cash tumbler … a system which has no other purpose but to obfuscate the source of funds.
A big part of what makes cryptocurrency so appealing is the privacy it affords users. In an age where data breaches are becoming more common, and personal information is worth its weight in gold, it’s no wonder that people are flocking to digital assets as a way to safeguard their finances.
However, with great power comes great responsibility, and as the industry continues to grow, it’s important that projects self-regulate in order to avoid government intervention.
This is not to say that we do not believe in the power of privacy … quite the opposite. We believe that crypto assets have the ability to create a more private and secure financial system, but we also believe that this can only be achieved through a balanced approach.
We look forward to seeing how the space develops and grows in the coming years, and we hope that other projects will prioritize a level of KYC and AML to keep crypto clean of criminal activity and corruption.