From Cointelegraph

March 21, 2025 11:42:00 AM:

The US Treasury Department removed cryptocurrency mixer Tornado Cash from its sanctions list following a court ruling. Tornado’s smart contracts were deemed not to be the property of any foreign entity. OFAC removed dozens of Tornado-affiliated smart contract addresses from its sanctions list. Tornado Cash’s native token, TORN, surged 60% on the news, with a market cap of $73 million.

OFAC sanctioned Tornado Cash in 2022 over money laundering allegations. The protocol was accused of helping Lazarus Group launder stolen cryptocurrency. Lazarus Group has reportedly stolen billions through cyberattacks. Tornado Cash allegedly facilitated the laundering of over $7 billion in illicit funds. One of Tornado Cash’s developers, Alexey Pertsev, was found guilty of money laundering in 2024 and released on house arrest in February. The Ethereum Foundation pledged $1.25 million for his defense, stating that privacy is normal and coding is not a crime.

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