Trump’s Treasury Removes Sanctions on Crypto’s Favorite Money Laundering Service
Tornado Cash, a cryptocurrency “mixer” designed to make it more difficult to track cryptocurrency transactions, was sanctioned by the Biden administration and made illegal due to its usage in facilitating some significant laundering schemes. But Donald Trump, the crypto president, has brought it back. The United States Treasury Department announced Friday that it will lift sanctions against Tornado Cash, allowing it to be used again to anonymize cryptocurrency transactions.
Here’s the quick and dirty back story on Tornado Cash: The protocol was launched in 2019 as a way for cryptocurrency users to obscure ownership over currency. You take “tainted” money (i.e., coins that have been…
