Why The US Treasury Sanctioned Crypto Exchange Tornado Cash

The U.S. Department of the Treasury has answered some questions on regulatory compliance relating to Tornado Cash, a recently sanctioned crypto mixer. The answers include how to withdraw crypto or complete transactions initiated using Tornado Cash prior to its sanction and how to deal with “dusting” transactions. Treasury Department Publishes Tornado Cash FAQs The U.S. Department of the Treasury answered some frequently asked questions Tuesday about the sanctioned cryptocurrency mixing service Tornado Cash. On Aug. 8, the Treasury’s Office of Foreign Assets Control....

Crypto think tank Coin Center has been one of the most critical voices against the U.S. Treasury and the sanctions imposed on the Ethereum-based decentralized exchange (DEX) Tornado Cash. The platform was sanctioned by the U.S. government for its alleged ties to illegal activities in a decision that might have set a dangerous precedent. Related […]

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....

No privacy. No property. No prosperity. If you follow the news, you’ve seen the trend — putting legal limits on cash transactions, the emergence of surveillance-oriented, central bank digital currencies (CBDCs), and more recently, crypto mixing platform Tornado Cash being sanctioned by the United States Treasury. There is a new wave of propaganda increasingly demonizing individual financial privacy and “private” cryptocurrencies and protocols. You’ve likely experienced the dystopian push in your own life, as banks and financial institutions demand more....

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 […]