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Tornado Cash sanctions effective, reveal Ethereum weakness: NY Fed

Cooperation with the US Treasury sanctions on Tornado Cash was strongest at the user level and weaker further along the settlement chain.

The Federal Reserve Bank of New York has released a report on the effect of sanctions on Tornado Cash, the crypto mixer that was blocklisted by the United States Treasury Department in 2022. Sanctions work, by and large, even in decentralized finance, the report concluded.

The report’s findings also apply to Ethereum. The Ethereum network’s resistance to censorship and cooperation shows “fragility,” the report says.

The Treasury’s Office of Foreign Assets Control (OFAC) sanctioned addresses associated with the so-called crypto mixer Tornado Cash on Aug. 8, 2022. The move was a response to large-scale money laundering operations it had enabled by obscuring the movement of crypto funds onchain. It was the first time a computer protocol had been sanctioned.

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Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

Latam Insights: Bukele Slashes Import Duties in El Salvador, Argentina Enacts Crypto Tax Normalization

Latam Insights: Bukele Slashes Import Duties in El Salvador, Argentina Enacts Crypto Tax NormalizationWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Nayib Bukele eliminated import taxes for basic products for a decade in El Salvador, Argentina defined rules for regularizing cryptocurrency assets, and OFAC sanctioned the Venezuelan gang Tren de Aragua. President Bukele […]

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

Venezuelan Crime Organization Tren De Aragua Gets Sanctioned by OFAC on Crypto Money Laundering Allegations

Venezuelan Crime Organization Tren De Aragua Gets Sanctioned by OFAC on Crypto Money Laundering AllegationsTren de Aragua (Aragua’s Train), a criminal gang with Venezuelan origins, has been sanctioned by OFAC as a transnational organization engaging in kidnapping, human trafficking, extortion, and other illegal behavior. The U.S. Department of the Treasury also stated that the organization had used cryptocurrency to launder the proceedings of their activities to some extent. OFAC […]

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

Officials From the US and UK Investigate Crypto Transfers to Russian Exchange Valued at $20,000,000,000: Report

Officials From the US and UK Investigate Crypto Transfers to Russian Exchange Valued at ,000,000,000: Report

Authorities from the US and UK are reportedly investigating $20 billion worth of crypto assets sent to a Russian crypto exchange platform. According to a new report by Bloomberg, anonymous sources familiar with the incident say that officials from the US and UK are looking into the matter as part of a crackdown effort against […]

The post Officials From the US and UK Investigate Crypto Transfers to Russian Exchange Valued at $20,000,000,000: Report appeared first on The Daily Hodl.

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

U.S. Treasury Department Targets 13 Russian Firms Allegedly Offering Crypto-Related Services To Avoid Sanctions

U.S. Treasury Department Targets 13 Russian Firms Allegedly Offering Crypto-Related Services To Avoid Sanctions

The US Government has named entities and individuals allegedly responsible for providing crypto products and services that aided in the evasion of sanctions on Russia. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) says that it has “sanctioned thirteen entities and two individuals for operating in the financial services and technology […]

The post U.S. Treasury Department Targets 13 Russian Firms Allegedly Offering Crypto-Related Services To Avoid Sanctions appeared first on The Daily Hodl.

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

Ethereum-Based Gaming Altcoin Leaps After Coinbase Listing Announcement

Ethereum-Based Gaming Altcoin Leaps After Coinbase Listing Announcement

An Ethereum (ETH)-based gaming altcoin is skyrocketing after being abruptly listed by Coinbase, the top US-based crypto exchange platform by volume. In a new announcement, Coinbase says that starting on March 21st, it will be adding support for Ronin (RON), a protocol developed by play-to-earn blockchain game developer Sky Mavis, the same team that created […]

The post Ethereum-Based Gaming Altcoin Leaps After Coinbase Listing Announcement appeared first on The Daily Hodl.

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

US Government Sanctions Two Russian Nationals’ Crypto Wallets Related to Ransomeware Group LockBit

US Government Sanctions Two Russian Nationals’ Crypto Wallets Related to Ransomeware Group LockBit

The US government is sanctioning the crypto wallets believed to belong to two Russian nationals linked to the ransomware group LockBit. In a statement, the Treasury Department’s Office of Foreign Assets Control (OFAC) says that it has sanctioned several Bitcoin (BTC) and Ethereum (ETH) wallets linked to the group. According to a press release, the […]

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Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

North Korean Hackers Stole Over $600,000,000 Worth of Crypto in 2023, According to Blockchain Analytics Firm

North Korean Hackers Stole Over 0,000,000 Worth of Crypto in 2023, According to Blockchain Analytics Firm

New data from blockchain intelligence firm TRM Labs reveals that North Korean hackers stole over half a billion dollars worth of digital assets in 2023. According to a new study by the crypto analytics platform, hackers associated with the Democratic People’s Republic of North Korea (DPRK) looted $600 million worth of crypto assets last year. […]

The post North Korean Hackers Stole Over $600,000,000 Worth of Crypto in 2023, According to Blockchain Analytics Firm appeared first on The Daily Hodl.

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant

Tether Preparing To Give FBI Access to Firm’s Platform After Onboarding U.S. Secret Service: CEO Paolo Ardoino

Tether Preparing To Give FBI Access to Firm’s Platform After Onboarding U.S. Secret Service: CEO Paolo Ardoino

Stablecoin issuer Tether (USDT) is preparing to give the Federal Bureau of Investigation (FBI) access to its platform soon after onboarding the U.S. Secret Service. In a new letter addressed to Senator Cynthia Lummis and Representative James French Hill, Tether chief executive Paolo Ardoino says that the crypto firm is onboarding law enforcement agencies as […]

The post Tether Preparing To Give FBI Access to Firm’s Platform After Onboarding U.S. Secret Service: CEO Paolo Ardoino appeared first on The Daily Hodl.

Bitcoin Reaccumulation Gains Traction Among Large Investors, Says Cryptoquant