Will tether ban tornado cash addresses?

Stablecoin issuer Tether has reiterated its decision not to bar Tornado Cash addresses, noting it has not yet been contacted by U.S. authorities or law enforcement with any such requests. “Unilaterally freezing secondary market addresses could be a highly disruptive and reckless move by Tether,” said the company in a statement on Wednesday.

What is tornado cash and how does it work?

With that, the majority of the blocks over the past day were delivered by relays that screened out transactions associated with Tornado Cash – a service that mixes transactions to make them anonymous – to comply with OFAC after it banned Americans from using the mixing protocol.

Is tornado a Treasury Department overreach?

Coin Center’s Jerry Brito and Peter Van Valkenburgh have labeled the effort an overreach: “If it was the Treasury Department’s intent to sanction some group of persons who actively maintain or promote Tornado. cash, that would be one thing.

Why is the Treasury sanctioning tornado cash?

WASHINGTON (Reuters) - The U.S. Treasury has broadened its justification for sanctioning virtual currency mixing service Tornado Cash on allegations it supports North Korea, despite criticism from users that the Treasury is targeting a service and not an organization.