US Treasury Sanctions First Crypto Mixer
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued its first-ever sanctions on a crypto mixer. The mixing service was used by Lazarus Group to process illicit proceeds from the $620 million crypto heist of the online game Axie Infinity, said the Treasury Department. Treasury Department Sanctions Crypto Mixer The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Friday that it has sanctioned crypto mixer Blender.io (Blender). According to the OFAC, this mixing service is used by the Democratic....
Related News
Flagged as a “significant threat” to the United States national security, Bitcoin mixer Blender.io has become the first crypto entity to be sanctioned by the Treasury Department. According to a press release, the platform has “failed” to implement Anti-Money Laundering (AML) and Counter-Terrorism policies. Related Reading | BitMEX Founders Ordered By US Court To Pay $30 […]
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 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....
The U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of American sanctions. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions,” the Treasury Department explained. Treasury Says Crypto Threatens Efficacy of U.S. Sanctions The U.S. Department of the Treasury released its 2021 Sanctions Review Monday. “Technological innovations such as digital currencies, alternative payment platforms, and new ways of hiding cross-border transactions all....
Github, Circle, dYdX, Alchemy, and Infura... All platforms have taken action against Tornado Cash or individuals connected to the mixer following U.S. sanctions. The Tornado Cash DAO went offline after many social media users reported the community discussing ways to challenge sanctions recently imposed by the United States Treasury Department’s Office of Foreign Asset Control.At the time of publication, the Tornado Cash DAO was offline reportedly following a discussion in which community members voted unanimously to add its governance layer as a signatory to its treasury’s multisig....