U.S. Treasury Lifts Sanctions on Tornado Cash, Boosting DeFi Sector

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has removed Tornado Cash, a cryptocurrency mixer, from its Specially Designated Nationals (SDN) List. This action lifts the economic sanctions previously imposed on the platform, allowing U.S. individuals to legally engage with it. Following the removal, no Ethereum addresses related to Tornado Cash were found, down from the previously reported 90 addresses.

The removal of Tornado Cash from the SDN list was announced in a Treasury filing related to the case of Van Loon v. Department of the Treasury. The decision reflects OFAC's discretion to adjust sanctions as part of its regulatory framework. This move is seen as a significant development for the decentralized finance (DeFi) sector.

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