Cryptocurrency Q&A
Is Tornado Cash still banned?
Is Tornado Cash still banned?
CryptoVanguard
Mon Sep 23 2024
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7 answers
1945
So, let me get this straight, you're asking if Tornado Cash is still under a ban? This is quite a pertinent question given the recent developments in the crypto space and the scrutiny on privacy-focused projects. From what I've been keeping tabs on, Tornado Cash did face sanctions from various regulators, including the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), for allegedly facilitating the laundering of funds stolen in cryptocurrency hacks. These sanctions essentially banned Americans from interacting with the platform. But as for the global picture, the status might vary depending on individual jurisdictions and regulatory frameworks. Are you asking from a specific regional or legal perspective?
7 answers
Eleonora
Wed Sep 25 2024
Tornado Cash has been deemed illegal in the United States due to its ability to undermine the fundamental principle of transparency on the Ethereum blockchain.
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Daniele
Tue Sep 24 2024
Regulators in the US have taken notice of these risks and have moved to ban the use of Tornado Cash within their jurisdiction.
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amelia_doe_explorer
Tue Sep 24 2024
This cryptocurrency mixing service operates by obfuscating the origin and destination of digital assets, allowing users to conceal their transactions from public view.
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JejuJoy
Tue Sep 24 2024
Despite the ban, individuals and organizations may still attempt to use Tornado Cash or similar services, highlighting the need for ongoing enforcement and education efforts.
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EchoSoulQuantum
Tue Sep 24 2024
While such services may seem appealing to those seeking anonymity or privacy, they pose significant risks to the integrity of the blockchain ecosystem.
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