• 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

SpaceX Acquires xAI to Tackle AI Power Challenges

chest

SpaceX has acquired xAI, merging rocket launch services with AI development to tackle the limitations of Earth-based infrastructure.

user avatarDiego Alvarez

Starlink Revenue Expected to Fund xAI's Operations After Merger

chest

Starlink revenue is expected to support xAI's operations after its acquisition by SpaceX.

user avatarKenji Takahashi

BlockDAG Launch Dashboard Set to Go Live on February 2

chest

BlockDAG will launch a new dashboard on February 2, providing users with a fully integrated system for managing their investments and preparing for exchange access.

user avatarMaria Fernandez

Referral Strategies Become Key to Success in ZKP Auction Stage 2

chest

Referral strategies are crucial for success in the ZKP presale auction Stage 2 as token availability tightens.

user avatarRajesh Kumar

Stage 2 of ZKP Presale Auction Heightens Competition with Scarcity

chest

Stage 2 of the ZKP presale auction reduces daily token allocation, intensifying competition and emphasizing referral strategies.

user avatarLuis Flores

SPX6900 and Brett Gain Traction in the Meme Coin Market

chest

SPX6900 and Brett are gaining traction in the meme coin market with increased trading activity and community support.

user avatarGustavo Mendoza

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.