US Treasury redesignates Tornado Cash sanctions, citing North Korea nuclear w...
The redesignation of the crypto mixer essentially replaces the U.S. Treasury’s actions from August, establishing sanctions for its role in “enabling malicious cyber activities." The United States Treasury Department's Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals.In a Nov. 8 announcement, the Department of the Treasury said it had “delisted and....
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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,”....
The U.S. Treasury Department’s move to blindly put a ban on Tornado Cash consequently brought a lawsuit against Treasury Secretary Jannet Yellen and other officials of its departments. The six affected users, which got into trouble due to the restrictions on the privacy tool, have challenged the U.S. sanctions in the district court of texas […]
Per a press release, the U.S. Department of the Treasury announced sanctions against Tornado Cash, a decentralized exchange (DEX). The institution added the website tornado.cash, the entities associated, and several Ethereum-based addresses to their Office of Foreign Assets Control (OFAC) Specially Designated Nationals And Blocked Persons List (SDN). Related Reading: Why Does Binance Recommend Shifting […]
Residents would not be violating sanctions by visiting Tornado Cash's website, copying the mixer’s open-source code, nor making the code available online or in print. The United States Department of the Treasury said “interacting” with cryptocurrency mixer Tornado Cash’s open-source code, with certain provisions, would not be in violation of sanctions imposed by the Office of Foreign Assets Control, or OFAC.In the guidance posted to its frequently asked questions pages on Tuesday, the Treasury Department clarified some concerns previously voiced by many U.S.-based crypto users regarding....
The United States has intensified its efforts to disrupt North Korea’s clandestine financial networks by imposing new sanctions on individuals and institutions accused of facilitating the laundering of crypto linked to cyberattacks. Crypto To Support Nuclear Initiatives? On Tuesday, the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced the designation of eight individuals […]