The Stanford Blockchain Club criticized the US Department of Justice's prosecution of Tornado Cash developers for violating outdated money transmission laws. The club's report questioned the DOJ's application of a statute from 18 U.S.C. ยง 1960 to charge the developers of Tornado Cash, a decentralized Ethereum protocol. The report highlighted the limitations of the statute in addressing decentralized protocols like Tornado Cash, which operate without intermediaries. It warned against stretching statutory language to regulate emerging technologies, emphasizing the need for legislative oversight. The report's release contributes to the ongoing debate on financial privacy and the regulation of DeFi technologies. Stanford University's blockchain club continues its tradition of engaging with regulatory challenges, advocating for privacy rights in digital finance. The article also provides updates on the crypto market, including new stablecoins and price predictions for Bitcoin and Ethereum. Read more AI-generated news on: https://app.chaingpt.org/news