Name
Treasury Department lifts sanctions on Tornado Cash
Description
The U.S. Treasury officially lifted sanctions on Tornado Cash after a U.S. appeals court and a Texas District Court determined that OFAC exceeded its legal authority by targeting the protocol. Initially sanctioned in 2022 over links to North Korea’s Lazarus Group. Treasury Secretary Scott Bessent emphasized the importance of protecting digital assets from abuse while fostering innovation.
Publish date
8:25am, Friday, March 21, 2025
Referenced by
OFAC removes Tornado Cash from its global blacklist
Crypto news
News story
The move comes after an appeals court ruled that the Office of Foreign Assets Control (OFAC), an agency within the Treasury, exceeded its authority by sanctioning Tornado Cash in November 2024, and a U.S. Disctrict Court in Texas ordered the sanctions to be reversed in January
Crypto news
Quote
The Treasury Department removed Tornado Cash and several associated digital wallet addresses from the OFAC specially designated nationals (SDN) list, according to a Friday release
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