There quite simply may be no “get-out-of-jail-free card” for developers when it comes to liability for code.
SEC actions have made developers fearful that their code may end in prosecution. Are smart contracts with immutable code the way to protect themselves?— a letter informing a company or individual that the United States Securities and Exchange Commission is planning to bring an enforcement action against them.
Some industry observers maintain that since Uniswap Labs publishes open-source software for an open-source front end, the issue is well outside the SEC’s jurisdiction.
“You have very hard questions of whether everybody who’s participating liable for the activities of that smart contract. I don’t see those questions having good regulatory outcomes.” Hart said that if the developers of Tornado Cash had created the mixer with mutable code, which they could control, they could help “steer the mixer toward regulatory compliance” and avoid being prosecuted.Mutable or not, there quite simply may be no “get-out-of-jail-free card” for developers.“There is never a guarantee that a developer can avoid legal persecution. There will always be an examination of the developer’s intentions and desired outcomes when coding.
The Horizon software made it appear like money was missing from its branches. Between 1999 and 2015, the Post Office relentlessly pursued people despiteConcerning the Tornado Cash case, Hart believes the developers’ true intention was “dedicated to decentralization and openness.” In his opinion, the intention wasn’t to launder money but to make digital currency anonymous, but “unfortunately, governments are going to disagree with that.
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