Blockchain

US Government Approves Ethereum-Based Mixer Tornado cash

The US Department of Treasury has approved Tornado cash, a well-known Ethereum-based coin mixing service.

US Government Approves Ethereum-Based Mixer Tornado cash

The government agency added the popular Ethereum mixing tool to its sanctioned list Monday. A post on the Treasury’s website confirms that the protocol’s website and a list of smart contracts associated with the project are now blocked. It’s the first time the U.S. has sanctioned a DeFi protocol on-chain. 

The action demonstrates the determination of American authorities to pursue various crypto supply chain nodes that are exploited for illicit purposes.

Another currency mixing firm, Blender, was sanctioned by the US authorities in May for allegedly assisting North Korea in the money laundering of some of the Axie Infinity monies.

Tornado Cash was “technically impossible”

US Government Approves Ethereum-Based Mixer Tornado cash

Services that mix coins are used to hide the source of specific transactions.

One of Tornado Cash’s founders said in March that it was “technically impossible” to impose penalties on the contentious coin mixer.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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