• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Reversal of Tornado Cash Sanctions in US: A Win for Privacy Technologies

user avatar

by Giorgi Kostiuk

a year ago

A US court has decided to reverse sanctions against Tornado Cash, marking a significant event for privacy-preserving technologies.

Sanction History

In August 2022, the US Treasury's OFAC sanctioned the cryptocurrency mixer Tornado Cash for allegedly helping the North Korean Lazarus Group in laundering over $455 million in stolen digital assets.

Court Decision

The US District Court for the Western District of Texas reversed OFAC's sanctions against Tornado Cash on January 21. The ruling stated that the previous court decision was erroneous, and the case is to be revisited.

It is ordered and adjudged that the judgment of the district court is reversed, and the cause is remanded to the district court for further proceedings in accordance with the opinion of this court.

Developer Challenges

Despite the reversal of sanctions, Tornado Cash developer Alexey Pertsev remains under arrest on money laundering charges. Pertsev argued that he couldn't be held accountable for users' unlawful activities on the protocol. However, the court dismissed these claims, indicating that the developers could have implemented more security measures to prevent abuse.

The reversal of Tornado Cash sanctions could be a pivotal step towards a more innovation-friendly regulatory environment. Nonetheless, the situation remains complex for developers.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Intel Faces Supply Constraints Amid Rising Demand

chest

Intel executives warn of supply constraints impacting revenue potential as demand accelerates.

user avatarMaya Lundqvist

Intel's Strategic Positioning and Government Stake Amid Market Challenges

chest

Intel's recovery narrative is intertwined with government support and strategic positioning, despite recent market losses.

user avatarLeo van der Veen

Intel's Stock Experiences Volatility Amid Mixed Earnings Outlook

chest

Intel's stock has experienced significant fluctuations due to a disappointing first-quarter outlook, with shares falling by up to 17% after forecasting Q1 revenue below expectations.

user avatarLi Weicheng

US Cryptocurrency Mining Stocks Surge Amid Market Momentum

chest

On January 24, US-listed cryptocurrency mining stocks, including Iris Energy and Applied Digital, experienced significant gains, with both stocks rising over 8%. This increase reflects a growing investor interest in cryptocurrency mining operations.

user avatarAisha Farooq

Husky Inu AI HINU Experiences Recent Price Increase.

chest

Husky Inu AI HINU has successfully completed its latest price increase, rising from 000025539 to 000025636 during its prelaunch phase that began on April 1, 2025.

user avatarTenzin Dorje

PAXG Tokenization: A New Frontier in Gold Investment

chest

The introduction of PAX Gold (PAXG) by Paxos Trust Company represents a novel approach to tokenizing physical assets like gold.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.