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On-chain tool to seize crypto is a purist’s nightmare, but a must, says CEO

Published 08/20/2023, 11:40 PM
Updated 08/21/2023, 01:20 AM

The founder of layer-1 blockchain Jurat has defended his protocol against potential haters, arguing that on-chain legal enforcement is a necessary trade-off for crypto mass adoption.

On Aug. 8, a U.S. District Court used Jurat’s on-chain enforcement tool to lock several sanctioned individuals out of their crypto accounts. These individuals were sanctioned for money laundering and using ransomware to extort cryptocurrency payments to benefit North Korea’s weapons program.

The court attached the Jurat IDs, which JCT’s blockchain nodes then read to block the private keys of the defendants on the JCT Blockchain. Source: Jurat

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