After 2 and a half years of sanctions, the United States finally withdrew Tornado Cash addresses from the OFAC black list. We take stock.
Tornado Cash is officially bleached in the United States
All this for that: this is a bit the feeling that the Tornado Cash affair can give. In August 2022, the Office of Foreign Assets Control (OFAC) of the United States unveiled sanctions against the cryptocurrency mixer. The all -found motif was of course its use by North Korea through the Lazarus hackers group.
After 3 years of twists and turns in justice, in particular arrests of developers, a reversal of the situation was clarified last November, after a first victory leaving to hope for a lifting of the sanctions. A few months later, the OFAC actually confirms the subject, By removing the addresses of Tornado Cash from the list of Specially Designated Nationals (SDN) ::
On the basis of the administration exam […] We exercised our discretion to remove economic sanctions against Tornado Cash.
While justice has actually forced hand to the Treasury Department for this outcome, its managers maintain, however, to be “deeply concernedBy North Korean hacks.
The treasure remains determined to use its powers to unmask and thwart the capacity of malicious cyberactors to take advantage of their criminal activities by exploiting digital assets and their ecosystem. We are also determined to apply our sanctions against [Corée du Nord] In order to limit the capacity of the regime to finance its programs of weapons of mass destruction and ballistic missiles.
When the effective withdrawal of sanctions withdraws on Friday, Tornado Cash Torn climbed more than 48 % on Friday. Today, its price is $ 12 per unit when writing these lines, down 0.38 % over 24 hours and a capitalization of $ 63 million.
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Source: press release
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Since 2021, I have devoted my free time to seriously train myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to carry out interviews with influential personalities from the blockchain industry. I also conduct in -depth analyzes on web3 themes to offer exclusive content to cryptoast readers.
Vincent Mayor
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