U.S. Treasury Excludes Tornado Cash from Sanctions List… "Misuse Will Continue to Be Monitored"
Summary
- The U.S. Treasury announced that it officially lifted sanctions on Tornado Cash.
- However, it stated that monitoring of illegal actors such as North Korea will continue.
- The price of TORN reportedly rose 36% following the news of the sanctions lift.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is reported to have lifted sanctions on Tornado Cash (TORN), a virtual asset (cryptocurrency) mixer service.
According to virtual asset specialist media Atlas21 on the 22nd, the U.S. Treasury announced in a statement on the 21st (local time) that it officially lifted sanctions on Tornado Cash. Previously, Tornado Cash had been sanctioned due to its association with illegal activities.
The U.S. government lifted the sanctions on the mixer but added that it will continue to monitor illegal actors such as North Korea. The Treasury emphasized that it will continue to exercise its authority to respond to malicious actors seeking illegal profits by exploiting digital assets and ecosystems.
On this day, the price of TORN is trading at $11.47, up 36% from the previous day.
Meanwhile, a mixer refers to a service that anonymously transfers virtual assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
