U.S. Department of the Treasury Removes Economic Sanctions Against Tornado Cash

March 21, 2025 The Daily Hodl

Daily Hodl

The Treasury Department’s Office of Foreign Asset Control (OFAC) is removing Tornado Cash from its Specially Designated Nationals (SDN) blacklist. According to a new announcement from the Treasury Department, OFAC is removing economic sanctions against the crypto protocol. Tornado Cash is a “crypto mixer” that uses cryptographic smart contracts and zero-knowledge proofs to obscure digital […]

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Saylor Projects Bitcoin’s Market Cap Will Hit 0 Trillion, Demonetizing Gold and Real Estate

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

US Government Blacklists Slew of Bitcoin and Monero Addresses Linked to Man Accused of Running Darknet Marketplace

March 5, 2025 The Daily Hodl

Altcoins

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is blacklisting a handful of crypto addresses linked to a man known for allegedly running Nemesis, a now-defunct darknet marketplace. In a new press release, the OFAC says that it is sanctioning Iranian national Behrouz Parasad and his Bitcoin (BTC) and Monero (XMR) addresses because […]

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Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Government Sanctions on Tornado Cash Reversed by U.S. Courts in Landmark Ruling

January 22, 2025 The Daily Hodl

Altcoins

A new court ruling has reversed the sanctions placed on crypto mixer Tornado Cash (TORN) by the US government. According to a recent filing by the New Orleans-based U.S. Court of Appeals for the Fifth Circuit, the previous decision to place sanctions on the digital assets tumbler has been lifted. “It is ordered and Adjudged […]

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Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Treasury Department Disrupts North Korean Crypto Money Laundering Operation Using UAE-Based Shell Company

December 19, 2024 The Daily Hodl

Daily Hodl

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) says it is dismantling North Korea’s digital asset money laundering network by taking action against individuals and entities involved in the operation. In a statement, the OFAC says it is sanctioning Chinese nationals Lu Huaying and Zhang Jian who worked for the network that used […]

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Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

US Treasury Takes Action Against Five Individuals Who Allegedly Used USDT To Evade Sanctions for Russian Elites

December 6, 2024 The Daily Hodl

Daily Hodl

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is holding accountable five individuals linked to a money laundering network that enabled Russian elites to circumvent international sanctions. In a statement, the Treasury Department says it is imposing sanctions on those associated with the TGR Group, which uses digital assets, including the US dollar-pegged […]

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Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

‘Massive’ — BuilderNet aims to solve Ethereum’s centralized block problem

November 27, 2024 Coin Telegraph

Beaverbuild

Ethereum block builders Beaverbuild and Titan Builder have made around 88% of the blockchain’s blocks in recent weeks, and now BuilderNet aims to disrupt that.

Blockchain infrastructure firm Flashbots has launched BuilderNet, a decentralized block-building network on Ethereum to “kill censorship” and solve one of the network’s biggest “chokepoints.”

BuilderNet launched on Nov. 26, which it said aims to allow “many parties to collaborate in building blocks” comes at a crucial time as around 88% of all Ethereum blocks have been built by Beaverbuild and Titan Builder in recent weeks.

This is “absolutely massive” as it will “kill censorship” and exclusive order flow deals on Ethereum, Coinbase’s protocol specialist Viktor Bunin said on X.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Big victory in Tornado Cash case as judge says OFAC exceeded authority

November 26, 2024 Coin Telegraph

Coin Telegraph

A US appeals court ruled the Treasury’s OFAC “overstepped” when it sanctioned crypto mixer Tornado Cash’s smart contracts.

A United States appeals court has reversed a lower court’s decision, finding the Office of Foreign Assets Control (OFAC) exceeded its authority in sanctioning Tornado Cash’s immutable smart contracts — a major win for the protocol and its users.

In a Nov. 26 opinion, a Fifth Circuit Appeals Court three-judge panel said that while Treasury has the power to take action against “property,” Tornado Cash’s smart contracts were not property under the International Emergency Economic Powers Act (IEEPA) as they are immutable, meaning they can not be controlled or owned.

“We hold that Tornado Cash’s immutable smart contracts (the lines of privacy-enabling software code) are not the “property” of a foreign national or entity, meaning (1) they cannot be blocked under IEEPA, and (2) OFAC overstepped its congressionally defined authority,” the trio of judges wrote.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Coin Center lawyers argue Tornado Cash is not property

November 20, 2024 Coin Telegraph

Coin Center

The Coin Center lawsuit, first filed in 2022, noted that one plaintiff used Tornado Cash to protect his identity while donating money.

Coin Center is appealing an earlier ruling by the United States district court for Northern Florida, which held that Tornado Cash creates indirect benefits for foreign individuals and entities that can be defined as a financial interest subject to sanctions from the Office of Foreign Assets Control (OFAC).

Legal counsel for Coin Center Jeffrey S. Hetzel told the 11th Circuit Court of Appeals, “The easiest way to resolve this case is to hold that in our plaintiffs’ transactions, there is no foreign property. The district court had to erase the word property from the statute.” Hetzel continued the argument:

Attorneys for the United States government countered Hetzel by maintaining that price appreciation of the Tornado Cash token, TORN, directly benefitted TORN holders and asserted that withdrawal fees were a form of accrued benefits for the protocol’s founders.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Vitalik Buterin Donates 100 Ethereum (ETH) to Tornado Cash Developer Roman Storm’s Legal Defense Fund

October 7, 2024 The Daily Hodl

crypto

Ethereum co-creator Vitalik Buterin is donating 100 ETH to bolster the legal defense fund of Tornado Cash developer Roman Storm. In a new thread on the social media platform X, Storm – who helped launch the anonymous ETH-based crypto mixing protocol in 2019 – expresses his gratitude to Buterin for his continued support. “I can’t […]

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Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

US sanctions Russian crypto platforms for money laundering ties

September 26, 2024 Coin Telegraph

Coin Telegraph

Two crypto exchanges and two individuals have been sanctioned for ties to underground finance.

The United States government has taken action against two Russians and two cryptocurrency exchanges tied to alleged illicit Russian finance. The departments of the Treasury, Justice and State were involved, along with an assortment of overseas law enforcement agencies.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) identified PM2BTC, a Russian cryptocurrency exchange, and Sergey Ivanov, who is associated with that exchange, as being of “primary money laundering concern.” At the same time, Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Ivanov and another crypto exchange, Cryptex.

PM2BTC is alleged to process the proceeds of ransomware attacks and other illicit activities. Half of its activities are linked to illegal operations, according to FinCen. According to Chainalysis, PM2BTC shares wallet infrastructure with UAPS (Universal Anonymous Payment System), an underground payment processing system.

OFAC

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