The decision to cancel the sanctions was made after the “analysis of new legal and political issues” related to the application of restrictions against financial and commercial activities, officials explained.
From the sanctions list Specially Designated Nationals (SDN) The American authorities deleted both the name Tornado Cash, and more than 100 related addresses of smart contracts of the Ethereum network. This decision means that legal entities and individuals in the United States are no longer prohibited from interacting with the service.
OFAC imposed sanctions on Tornado Cash in August 2022. According to the agency, since the creation of Tornado Cash in 2019, with the help of a cryptomyxer, the attackers pierced the cryptocurrency for more than $ 7 billion. Over $ 455 million were associated with the activities of the North Korean hacker group Lazarus Group. Customer funds and the Tornado Cash website since August 2022 have been blocked, and American tax residents were forbidden to use the service.
Earlier, the Court of Appeal canceled the decision of the Texas Federal Court, which allowed OFAC to introduce restrictions against the Tornado Cash cryptomy.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
