Treasury sanctioned the Tornado Cash mixing tool for blocking financial privacy

in lsdkhls •  2 years ago 

Below is an excerpt from the latest edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium market newsletter. To be among the first to receive these insights and other on-chain Bitcoin market analysis straight to your inbox, subscribe now.

As early as August 8, 2022, it was announced by the US Treasury that Tornado Cash had been added to the US OFAC (Office of Foreign Assets Control) SDN list (list of specially designated nationals with whom Americans and American business transactions are prohibited. ) Tornado Cash , a non-custodial open source software project built on Ethereum, allows users to mix their coins via TornadoCash smart contracts, which obfuscate the previous path of the coins (which must be transacted across a transparent ledger).

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!