US removes sanctions against Russian crypto service facilitating sanctions circumvention
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The US Office of Foreign Assets Control (OFAC) has removed the Tornado Cash crypto service from the list of sanctioned entities and eased sanctions against its Russian founder.
Source: OFAC in a statement on its website
Details: The OFAC noted that Tornado Cash has been removed from the Specially Designated Nationals (SDN) list.
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This list contains individuals and entities that are blocked under various sanctions programmes.
Ukrainian news outlet Liga.net reported that Tornado Cash is an Ethereum-based cryptocurrency mixing service. In August 2022, the US Department of the Treasury added Tornado Cash to the SDN list, accusing it of laundering more than US$7 billion,…
