The decision was followed by a ruling in January from the American Appeal Court, Which declared illegal penalties.
According to the court ruling in January, “smart contracts are not subject to change […] Optic authority exceeded as specified by Congress. “
in statement On March 21, the Ministry of Treasury said that the Office of Foreign Assets Control (OFAC) has removed several tens of hurricanes smart contract addresses on the ETHEREUM BLOCKCHAIN network from the sanctions list.
Tornado Cash (Torn), about 60 % after the news, increased, according to the news, according to the news, according to the news. Data From Coinmarketcap.
OFAC is the division of the Ministry of Treasury responsible for managing economic and commercial sanctions against states and foreign citizens.
Tornado Cash allows users to combine encrypted currencies in the mixer and then pull them into other wallet addresses, making it difficult to track the original financing source.
Money laundering fees
In August 2022, OFAC imposed the Tornado Cash penalty, saying that the Blockchain protocol helped wash the cryptocurrency stolen by the North Korean Lazaros group.
In February, Lazaros He was accused of embezzlement of $ 1.4 billion from Exchange of cryptocurrency In the largest exploitation of the cryptocurrency in history.
In total, he claimed that Tornado Cash has facilitated laundering money more than $ 7 billion of illegal money since the launch of the protocol in 2019, according to the US Treasury.
In 2024, a Dutch court Alexei Bertsif, one of the Tornado Cash developers, was found, sinner From laundering money and sentenced to 64 months in prison.
In February, Persif was released under the arrest of the house While preparing an appeal against the ruling.
Ethereum pledged to donate $ 1.25 million to defend Persif. “Privacy is normal and that the symbol of writing is not a crime”, ” books The basis on the social network X, announcing the donation on February 26.
The US decision to remove hurricane funds from the sanctions list must be considered in the context of the legal limits on the authority of the authority on smart contracts. The court set clear limits by noting that the law itself cannot be the subject of the penalties, because it is not the property of a specific person.
Despite the lifting of the penalties on the protocol, the status of the developer Alexey Pertsev continues to develop separately, highlighting the complex nature of regulation and legal responsibility in cryptocurrency technology.
Source: https://coinpaper.com/8151/us-lifts-sanctions-p