There 'is an attempt to establish a precedent that on-chain privacy is somehow dangerous.... But we had not been largely affected by that – we have not been approached by the regulators,” Zac_Aztec told baidakova
The crackdown made it clear that the governments of the world, especially, the one in the U.S., do not look favorably on blockchain privacy tools, be they decentralized open-source services like Tornado Cash or its custodial peers.
He added that while the company did discuss the regulatory aspect internally it was the commercial side that tipped the balance in favor of winding the project down. Furthermore, Aztec Connect was not as stable and scalable as the team wanted it to be, and in its current version, as a single node, it was de facto centralized, Williamson said:
“We want to establish a precedent with this technology – that the side of regulation is on the application and not the network level. You can’t do it when you have a centralized node in a centralized network. At this point, the network and the application are the same. So we need a better technology to establish that,” Williamson said.
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