Dragonfly Partners Respond to Potential Charges from the U.S. Department of Justice: They Plan to Fully Defend Themselves

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On July 26, Dragonfly partner Haseeb responded to "The U.S. Department of Justice is considering charges against DragonFly employees regarding the Tornado Cash case," stating, "Dragonfly invested in Tornado Cash's developer PepperSec, Inc. in August 2020 because we firmly believe in the importance of open source privacy protection technology. Before the investment, Dragonfly obtained external legal advice confirming that the construction of Tornado Cash complies with legal regulations and aligns with the guidelines issued by FinCEN, an agency of the U.S. Treasury, in 2019. The U.S. government has currently stated in open court that they are considering charges against Dragonfly. Based on legal advice, we have temporarily refrained from making public comments, but we have decided not to remain silent anymore." "We firmly believe that Americans enjoy the right to privacy, and the lack of privacy rights remains one of the biggest unresolved issues in the realm of Crypto Assets. Therefore, we stand by our investment position. It is outrageous to bring charges against Dragonfly after years, contradicting facts and law, and will have a chilling effect on investments in all Crypto Assets and privacy protection technologies in the U.S. Dragonfly intends to fully defend itself."

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