US EditionUS lifts sanctions on Tornado Cash cryptocurrency mixer
- The US Treasury Department lifted sanctions on Tornado Cash, a cryptocurrency mixer accused of laundering billions for criminals and nation-states, following a federal appeals court ruling questioning the ban's legality.
- In 2022, the Biden administration claimed Tornado Cash laundered over $7 billion, including $455 million tied to North Korea's Lazarus Group, leading to sanctions.
- A federal appeals court ruling questioned the authority to ban Tornado Cash's smart contracts, prompting the sanctions' removal despite ongoing concerns about misuse.
- The decision reflects a broader shift in the US administration's approach to digital currency regulation, with discussions about legislation, including the GENIUS Act, continuing.
17 Articles
17 Articles
US Treasury lifts sanctions on crypto mixer linked to North Korean laundering
The U.S. has lifted sanctions against an anonymized cryptocurrency mixer linked to North Korean money laundering, an action blockchain professionals and privacy advocates have hailed as a major victory against government overreach. The Treasury Department announced in a press release on Friday that it delisted the decentralized Tornado Cash in line with a review by […]
Crypto Market Recap: Coinbase Challenges Tornado Sanctions Decision
Here’s a quick recap of the crypto landscape for Monday (March 24) as of 9:00 p.m. UTC. Bitcoin and Ethereum price update Bitcoin (BTC) is currently trading at US$88,242.18, a 3.6 percent increase over the past 24 hours. The day’s trading range has seen a low of US$87,300.18 and a high of US$88,713.83. Arthur Hayes speculates that Bitcoin could go as high as US$110,000 before retracing to the US$75k range as inflation concerns fade and the US F…
Tornado Cash Is No Longer Sanctioned by the US Treasury
The US Treasury has lifted sanctions on the coin mixer Tornado Cash and multiple related crypto addresses, according to a March 21 update. The change removes 90 Ethereum addresses from the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals List. The Treasury wrote that the decision is based on a review of legal and policy issues explained in its Monday filing in Van Loon v. Department of the Treasury. In December, the feder…
Tornado Cash ported to MegaETH testnet after U.S. Treasury lifts sanctions
Tornado cash has been ported to the newly launched MegaETH public testnet following the removal of sanctions against the protocol. The crypto privacy protocol Tornado Cash was ported to MegaETH testnet, as originally reported by The Block. Developer Gunboats named…
Coverage Details
Bias Distribution
- 100% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
