The Office of Foreign Asset Control (OFAC) of the Treasury Department removes Tornado -Contant money from the specially designated Nationals (SDN) on blacklist.
According to a new announcement of the Treasury Department, OFAC removes economic sanctions against the crypto protocol.
Tornado Cash is a “crypto mixer” that uses cryptographic smart contracts and zero knowledge lectures to cover up transaction trails of digital assets. It has been criticized for facilitating bad actors, such as the Lazarus Group in Noord -Korea, who uses Tornado in a continuous money to wash stolen funds on their way to nuclear development.
The move comes two months after a American Court of Appeal based in New Orleans for the fifth circuit increased sanctions against the controversial protocol.
“It is ordered and assessed that the judgment of the court will be reversed and the cause will be returned to the court of the United States Court of Appeal for further proceedings in accordance with the advice of this court.”
The Ministry of Treasury officially submitted to the courts on Monday to remove Tornado -Contant money from the American sanction list. Now the Tornado Cash Ethereum address is officially deleted.
Says Secretary of the Treasury Scott Bessent,
“Digital assets offer enormous opportunities for innovation and making value for the American people.
Securing the digital assets industry against abuse by North Korea and other illegal actors is essential to establish American leadership and to ensure that the American people can benefit from financial innovation and inclusion. “
Follow us on X, Facebook and Telegram
Don’t miss a beat – Subscribe to get e -mail notifications directly to your inbox
Check price promotion
Surf the Daily Hodl -Mix
Featured image: Shutterstock/JLstock
