US Court Lifted Sanctions on This Altcoin, Price Soared!

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Bitcoinsistemi2025/01/22 18:55

By:Elif Azra Güven

The U.S. District Court for the Western District of Texas has lifted the U.S. Treasury Department’s OFAC sanctions on Tornado Cash.

A US court has overturned the sanctions imposed by the US Treasury Department's OFAC on cryptocurrency mixer Tornado Cash.

Accordingly, the U.S. District Court for the Western District of Texas lifted the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctions on Tornado Cash.

Following this decision, the TORN price saw a major increase. Having increased by up to 100% in recent hours, TORN continues to trade at $17.7 at the time of writing.

The U.S. Treasury Department's OFAC imposed sanctions on cryptocurrency mixing protocol Tornado Cash in August 2022 for allegedly helping North Korea's Lazarus Group launder $455 million worth of stolen digital assets.

Tornado Cash founder Aleksey Pertsev was arrested in the Netherlands after Tornado Cash was blacklisted by the US Treasury Department in 2022.

At this point, last May, a Dutch court found Alexey Pertsev guilty of money laundering and sentenced him to 64 months in prison.

Related News Decision Made in Tornado Cash Case! This Altcoin Price Reacted!

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block•2025/01/30 21:34