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U.Today is pleased to announce that the United States Treasury has officially lifted its sanctions against Tornado Cash, a popular cryptocurrency mixer. This decision comes after recent court rulings have challenged the Treasury’s initial sanctions.
In a statement, the Treasury emphasized its concerns about state-sponsored hacking and money laundering, stating that it remains committed to addressing these issues. However, in light of recent developments, it has decided to no longer sanction Tornado Cash.
Coinbase CEO Brian Armstrong welcomed the decision, saying that “no one wants to see bad folks use crypto.” He added that privacy is a crucial feature for many law-abiding citizens and that open-source code should not be sanctioned. This sentiment has been echoed by other industry leaders and experts who have criticized the Treasury’s initial sanctions as overly broad.
This development comes at a critical time, as the cryptocurrency market continues to evolve and grow in importance. The U.S. government’s shift in stance could potentially pave the way for greater clarity on the regulation of digital assets.
As such, it is essential for investors and traders to remain vigilant and continue to stay informed about these issues.
Source: https://u.today/tornado-cash-no-longer-sanctioned-by-us-treasury
