Sanctions against Tornado Cash may be contested by Coin Center
According to Jerry Brito and Peter Van Valkenburgh of Coin Center, OFAC abuses its statutory jurisdiction by treating autonomous code like a person. The US-based crypto policy advocacy group Coin Center said it intended to “pursue administrative remedies” for anybody affected by the restrictions placed on Tornado Cash by the Office of Foreign Asset Control, […]
O’Leary: Giving up Tornado Cash for institutional adoption worth it
According to Mr. Wonderful. more regulation is needed for crypto and “crypto cowboys” like Alexey Pertsev, the developer of Tornado Cash, should be sacrificed to bring stability to institutional inflows. Shark Tank host and millionaire venture capitalist Kevin O’Leary said that Tornado Cash and similar services are blocking real institutional money from entering the industry, […]
Tornado Cash DAO shuts down after treasury funds vote
Following U.S. sanctions, all platforms—Github, Circle, dYdX, Alchemy, and Infura—took action against Tornado Cash or anyone associated with the mixer. The Office of Foreign Asset Control of the United States Treasury Department recently levied penalties, and many social media users claimed the community was debating how to contest them. This led to the shutdown of […]
Dutch FIOD arrests suspected developer of Tornado Cash
The Dutch Fiscal Information and Investigation Service (FIOD) has arrested the developer of Tornado Cash on account of suspected money laundering through the cryptocurrency mixing service. The arrest of a 29-year-old man in Amsterdam was officially announced on Friday by the Fiscal Information and Investigation Service (FIOD), a Dutch organization charged with looking into financial […]
dYdX confirms incorrectly blocking user accounts linked to Tornado Cash
Crypto derivatives platform dYdX said that it incorrectly suspended and barred some users who had never directly interacted with Tornado mixer. The derivatives platform suspended some accounts after the Office of Foreign Assets Control of the US Treasury Department added Tornado Cash to its list of Specially Designated Nationals (SDNs), according to a blog post […]