US Treasury Department has removed Tornado Cash, a cryptocurrency mixer, from its sanctions list.
Tornado Cash allows users to mix cryptocurreUS lifted sanctions on Tornado Cashncies in order to conceal the origin of funds. In 2022, the US Treasury imposed sanctions on Tornado Cash for laundering over $7 billion in virtual currency. This includes $455 million that was allegedly stolen by the Lazarus Group, a North Korean hacker group, in 2022.
A court in the US declared sanctions against Tornado illegal in November 204, ruling that the Treasury had exceeded their authority.
Russian Roman Semenov (date of birth: November 8, 1987) is one of the founders of Tornado Cash, according to new data from the US Treasury. According to US authorities, Semenov lives in Russia and Dubai.
“Securing the digital asset industry from abuse by North Korea and other illicit actors is essential to establishing U.S. leadership and ensuring that the American people can benefit from financial innovation and inclusion,” said Secretary of the Treasury Scott Bessent.
