U.S. Treasury Lifts Sanctions on Tornado Cash After Court Ruling
The U.S. Treasury Department's sanctions authority has removed Tornado Cash from its global blacklist. The crypto mixing tool was previously sanctioned for facilitating money laundering for North Korea's Lazarus Group.
- A federal appeals court ruled that Tornado Cash's smart contracts cannot be sanctioned as they are not considered the property of any foreign national.
- The U.S. Treasury expressed ongoing concern regarding state-sponsored hacking and money laundering linked to North Korea.
- Co-founder Roman Storm faces a criminal trial in July for his involvement in developing Tornado Cash.
- A second developer has been charged but remains unarrested.
- The TORN token rose by 40% following the announcement from the Treasury.