Tornado Cash Crypto Mixer Is Banned by US Treasury

Video Credit: Wibbitz Top Stories
Published on August 8, 2022 - Duration: 01:31s

Tornado Cash Crypto Mixer Is Banned by US Treasury

The ban was announced by the U.S. Department of Treasury on Aug.

8.

It means that all US citizens have been barred from engaging with the platform.

The ban also requires that Tornado Cash report its U.S. assets to the Office of Foreign Assets Control.

According to the Treasury Dept., Tornado Cash has been used to launder at least hundred of millions of dollars acquired though crypto-hack schemes.

The Dept.

Claims some of these hacks are tied to North Korea.

The ban instituted by the U.S. Treasury is one move of several that have been recently taken against Tornado Cash.

The statement issued from the U.S. Treasury seems to indicate an openness to these kinds of platforms as long as they can be regulated.


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๐Ÿ’ก newsR Knowledge: Other News Mentions

United States Department of the Treasury

United States federal executive department

Office of Foreign Assets Control

Agency of the United States Department of the Treasury

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