By Elizabeth Hearst for AMLi
The US Treasury Department’s Office of Foreign Assets Control (OFAC) has today announced it would sanction the virtual currency mixer Tornado Cash, which OFAC says has been used to launder $7BN (€6.85BN) since its creation in 2019.
Tornado Cash operates on the Ethereum blockchain, and “indiscriminately” facilitates “anonymous transactions by obfuscating their origin, destination and counterparties with no attempt to determine their origin”, said OFAC in a statement.
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