NY Fed Report Shows Mixed Impact of Tornado Cash Sanctions; OKX to Block Accounts Interacting with Garantex, Ethereum Builders Compliance

A recent report from the New York Federal Reserve indicates that sanctions imposed on Tornado Cash have yielded mixed results.

While the sanctions have succeeded in reducing the volume of transactions and user diversity associated with the service, substantial anonymity pools remain intact.

The report highlights that most Ethereum builders complied with the sanctions, yet some continued to process transactions for philosophical reasons.

In a related development, OKX CEO has announced that accounts interacting with Tornado Cash or other sanctioned entities, such as Garantex, will be blocked. This move reflects a tightening of controls regarding sanctioned transactions on the platform, as users depositing or withdrawing from these entities risk losing their accounts.

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