Blockchain investor Abraham Piha explains how Tornado Cash legal issues will ...
Things have not been looking too good for the crypto market in recent months, with the market seemingly being gripped by one piece of bad news after another. To this point, on Aug. 8, the United States Department of the Treasury’s Office of Foreign Assets Control issued legal sanctions against digital currency mixer Tornado Cash. […]
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What’s the story around Tornado Cash? The U.S. Department of the Treasury made its case in a press release, but the question still lingers. Because, as many people have pointed out, Tornado Cash is not an institution, but a smart contract in the Ethereum blockchain. And according to US law, code is supposed to be […]
The Ethereum-based decentralized platform, Tornado Cash, has been at the center of controversy since US authorities targeted it. The case continues to evolve without positive developments for the platform or its co-founders. Related Reading: Tornado Cash’s Legal War Against US Sanctions Ends In Defeat For Crypto Mixer The case attracted the attention of think tanks […]
The Tornado Cash chronicle unfolds. Authorities in the Netherlands apprehended a man suspected to be a Tornado Cash developer in Amsterdam on Wednesday. The Fiscal Information and Investigation Service said that the unidentified 29-year-old man was reportedly involved in money laundering via the decentralized Ethereum mixer Tornado Cash. In the Netherlands, FIOD is the body […]
On Monday, the U.S. Treasury Department’s watchdog the Office of Foreign Asset Control (OFAC) banned the ethereum mixing application Tornado Cash. OFAC has cited that the mixer has helped North Korean hackers such as the hacking syndicate known as Lazarus Group.
OFAC Sanctions Tornado Cash Mixing App
OFAC has officially banned the Tornado Cash and Tornado Cash Classic websites alongside all of the digital currency addresses allegedly associated with the site.
“The following entity has been added to OFAC’s SDN list: Tornado Cash,”....
Coinbase says that the Treasury overstepped its authority in issuing the Tornado Cash sanctions. According to a new lawsuit filed in the U.S. District Court, Western District of Texas. On Thursday, six users of the Ethereum blockchain and cryptocurrency mixer Tornado Cash sued the U.S. Department of Treasury, alleging that its recent designation of 44 Tornado Cash smart contract addresses to the Specially Designated Nationals (SDN) list of the Office of Foreign Asset Control (OFAC) is "not in accordance with law."Since Aug. 8, U.S. persons and entities have been prohibited from interacting....