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One of the week’s biggest developments saw the US Office of Foreign Assets Control bring their highest level of sanctions down on Tornado Cash, accusing the currency mixer of helping North Korean hackers to launder stolen money. The ramifications of this move, even for individual traders that had only minor interactions with the protocol, are huge.
The (supposedly) decentralized derivatives exchange dYdX was one of the first protocols to block user funds that had any historical association with Tornado Cash, alongside fellow US-based crypto companies Circle and GitHub. The fallout on crypto Twitter has been preidctably ferocious, with arguments that the blacklisting of neutral lines of code constitutes an assault on freedom of speech.
In the latest developments, a 29-year old was arrested in Amsterdam this morning on suspicion of being a developer for Tornado Cash, and the Tornado Cash website is offline.
One of the week’s biggest developments saw the US Office of Foreign Assets Control bring their highest level of sanctions down on Tornado Cash, accusing the currency mixer of helping North Korean hackers to launder stolen money. The ramifications of this move, even for individual traders that had only minor interactions with the protocol, are huge.
The (supposedly) decentralized derivatives exchange dYdX was one of the first protocols to block user funds that had any historical association with Tornado Cash, alongside fellow US-based crypto companies Circle and GitHub. The fallout on crypto Twitter has been preidctably ferocious, with arguments that the blacklisting of neutral lines of code constitutes an assault on freedom of speech.
In the latest developments, a 29-year old was arrested in Amsterdam this morning on suspicion of being a developer for Tornado Cash, and the Tornado Cash website is offline.