Tornado mixer dropped from US blacklist 🚫
The US Treasury Department has removed the cryptocurrency mixer Tornado Cash from its sanctions list. This decision follows a January ruling by a US appeals court stating that the Treasury's Office of Foreign Assets Control (OFAC) cannot sanction Tornado's smart contracts as they are not the property of a foreign national.
The Treasury removed several Tornado-affiliated smart contract addresses from its sanctions list. This news led to Tornado Cash's token, TORN, surging by approximately 60% and reaching a market capitalization of around $73 million.
Previously, Tornado Cash was sanctioned by OFAC for allegedly aiding the laundering of billions of dollars in cryptocurrencies by the North Korean Lazarus Group. Although allegations concerning illicit funding persist, Tornado Cash now finds new opportunities following the blacklist removal.
Additionally, one of Tornado Cash's developers, Alexey Pertsev, was found guilty of money laundering by a Dutch court. Nevertheless, Pertsev is preparing an appeal with support and funding from the Ethereum Foundation, which has pledged $1.25 million for his defense.
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