US Treasury clarifies publishing Tornado Cash’s code does not violate sanctions
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....
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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 […]
Ethereum developer Preston Van Loon encouraged GitHub to fully restore Tornado Cash’s repositories after partial unbanning. Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website.Ethereum developer Preston Van Loon took to Twitter on Thursday to report that GitHub has partly unbanned the Tornado Cash organization and contributors on their platform. The developer suggested that Tornado Cash’s code repositories are now in read-only mode, which means that GitHub is yet to restore full functionality.“But that is....
Six individuals are challenging the Treasury Department. Two seemingly separate stories. One terrifying precedent. It’s all about privacy. On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation to increase cryptocurrency regulations.But these two stories are not mutually exclusive.....
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 […]
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....