Tag: Tornado

US Treasury Removes Tornado Cash From OFAC Sanctions List

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The Department of Treasury has lifted Sanctions on Tornado Cash, the Ethereum based smart contract mixer, following a series of legal defeats and administrative challenges. “Based on the Administration’s review of the novel legal and policy issues raised by use of financial sanctions against financial and commercial activity occurring within evolving technology and legal environments, we have exercised our discretion to remove the economic sanctions against Tornado Cash as reflected in Treasury’s Monday filing in Van Loon v. Department of the Treasury,” the Treasury Department stated.  Quick Overview of the…

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Okx Says Accounts Interacting With Tornado Cash Will Be Closed

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According to the CEO of the cryptocurrency exchange Okx, users are now barred from account interacting with Tornado Cash and Garantex. In a post on social media, the CEO said any Okx accounts receiving deposits from sanctioned entities, including Garantex and Tornado Cash, will trigger compliance risk control, ultimately leading to account closure. Similarly, any […] Source link

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Tornado Cash users file appeal over judgment in favor of US Treasury

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A group of Tornado Cash users has filed an appeal in federal court following a ruling upholding the United States Treasury Department’s decision to add the cryptocurrency mixer to its list of sanctioned entities. In a Nov. 13 filing in the U.S. Court of Appeals for the Fifth Circuit, lawyers representing plaintiffs Joseph Van Loon, Tyler Almeida, Alexander Fisher, Preston Van Loon, Kevin Vitale and Nate Welch argued that the U.S. Treasury “stretched [its] authority beyond recognition” in sanctioning Tornado Cash transactions. The filing came in response to an August…

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Sam Bankman-Fried’s life in jail, Tornado Cash’s turmoil, $3B BTC..

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Top Stories This Week Tornado Cash co-founders charged with money laundering, sanctions violations United States officials pressed charges against the co-founders of crypto mixer Tornado Cash on Aug. 23. Roman Storm and Roman Semenov were both charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business. Storm was arrested and released on bail a few days later, while Semenov was added to the U.S. list of Specially Designated Nationals and Blocked Persons. Combined, the charges carry a maximum sentence of…

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