The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has clarified how US users can access locked assets on Tornado Cash.
OFAC plans to consider individual applications to complete transactions or withdraw funds from the blocked Tornado Cash cryptocurrency mixer. Transactions made on Tornado Cash before August 8 and not subject to “sanction actions” are allowed for consideration.
To complete pending transactions or withdraw funds, users will be required to provide the agency with the reason for the transaction, the wallet addresses of the sender and recipient, hashes, the date and time of the transaction, and the name and number of digital assets.
OFAC does not prohibit US citizens from copying Tornado Cash’s open source code, or from making it available on the Internet for viewing by third parties. However, participation in any Tornado Cash transactions without specific permission from the agency is prohibited.
“Americans will not be banned under US sanctions regulations from visiting the Internet archives of the Tornado Cash website. They will also not be banned from visiting the Tornado Cash website if it becomes active online again,” OFAC said.
The blocking of Tornado Cash and the arrest of its developer caused criticism from the crypto community. In particular, the founder of Cardano Charles Hoskinson (Charles Hoskinson) stated that, having created an open source code, developers cannot control what people will subsequently do with this code.
In August, a Dutch court decided to keep Alexey Pertsev, developer of Tornado Cash, accused of facilitating money laundering through a mixer, in jail for at least 90 more days.
Source: Bits
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