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U.S. Sanctions Crypto Platform Tornado Cash, Says It Laundered Billions
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wsj.comThe U.S. Treasury Department imposed sanctions on a major cryptocurrency platform, accusing it of laundering billions of dollars in virtual currency, including $455 million allegedly stolen by North Korean hackers.
Monday’s action against Tornado Cash, a so-called mixer platform that enables users to exchange cryptocurrencies with relative anonymity, is another salvo by the Biden administration against the burgeoning blockchain financial markets. Regulators, lawmakers and law-enforcement officials say that some cryptocurrency platforms afford users anonymity that enables them to launder criminal proceeds, finance terrorism, or engage in public corruption.
Read more on wsj.comAbout this in other media
Tornado Cash sanctions will ultimately undermine the US and strengthen crypto cointelegraph.com /1 year ago
Tornado Cash ban could spell disaster for other privacy protocols — Manta co-founder cointelegraph.com /1 year ago
Tornado Cash shows that DeFi can’t escape regulation cointelegraph.com /1 year ago
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