U.S. Treasury’s Tornado Cash U-Turn: Sanctions Lifted Amid Crypto Controversy!
Sanctions against Tornado Cash are lifted by the U.S. Treasury Department, marking a change in approach to the cryptocurrency mixer accused of aiding North Korea. The decision follows a court ruling that OFAC overstepped its authority. Tornado Cash’s smart contracts were deemed unfit for sanctions as they are not considered “property.”
Hot Take:
So, Tornado Cash is back in the mix, folks! The U.S. Treasury just gave it a hall pass because apparently, smart contracts aren’t “people.” It’s the legal loophole equivalent of saying, “Hey, the dog ate my sanctions compliance homework!” But let’s not kid ourselves; this isn’t a free pass to a crypto carnival. This is more like a “you behaved, so you get your toys back” moment. The Treasury’s still got its eye on North Korea, so don’t expect them to start endorsing dodgy dealings anytime soon. Yet, the world of digital assets just got a little more interesting, or should I say, less predictable?
Key Points:
- U.S. Treasury lifts sanctions against Tornado Cash, a cryptocurrency mixer.
- Over 100 Ethereum wallet addresses removed from the SDN list.
- Sanctions were initially imposed due to alleged laundering activities linked to North Korea.
- A court ruled that OFAC overstepped by sanctioning immutable smart contracts.
- The Treasury remains vigilant against misuse of digital assets by malicious actors.