Ameen Soleimani, one of the developers of the famous Tornado Cash mixer, has just unveiled his new project : Privacy Pools, a “regulation compliant” crypto mixer. The project offers users a safe and legal alternative to protect their privacy during cryptocurrency transactions. With this innovation, Soleimani is committed to changing the game by reconciling anonymity and compliance.
Former Tornado Cash developer launches regulatory-compliant mixing service
Last summer, TOrnado Cash has been sanctioned by US regulators following its use for money laundering. This case led to the establishment of strict measures to regulate the activities of crypto mixers. Some developers of this mixer are also in detention, this is the case of Alexey Pertsev.
Today, Ameen Soleimani, former developer of Tornado Cash, took the lead throwing Privacy Pools, a regulation-compliant crypto mixer. The new version of the protocol, launched on the Optimism’s Goerly testnet, makes it possible to separate the own funds from those coming from illegal activities while preserving the confidentiality of the users.
This initiative is a response to the concerns of the crypto community about the regulation of mixers. Privacy Pools could become an interesting alternative for those looking for a legal and anonymous way to mix their cryptocurrencies.
Privacy Pools, the solution to reconcile anonymity and compliance
The new cryptocurrency mixing tool will address privacy and compliance issues with Tornado Cash. Indeed, the deposited funds are pooled in a liquidity pool, allowing its users to recover their deposit from a blank address.
Privacy Pools stands out for its ability to allow users to withdraw mixed funds from a subset of deposits considered legitimate. This ensures their compliance with applicable local regulations.
To ensure the confidentiality of transactions, Privacy Pools uses an advanced cryptographic technique called Proof of zero-knowledge (ZK). This method makes it possible to prove that the funds are legitimate without disclosing their origin, thus ensuring the security and confidentiality of transactions.
Although the app’s code is yet to be audited, Privacy Pools is already attracting interest from the crypto community and its creator, Ameen Soleimani, is confident about its future. With Privacy Pools, users will now be able to reconcile anonymity and compliance in their transactions.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.