Tornado Cash De-listed: Sanctions Rollercoaster Ends (For Now)

The US Treasury Department removed Tornado Cash, a crypto mixing service accused of aiding North Korea's Lazarus Group in laundering stolen funds, from its sanctions blacklist. A federal appeals court ruled that OFAC couldn't sanction Tornado Cash's smart contracts, as they weren't considered 'property' of any foreign national. While the Treasury expressed continued concern over North Korean cybercrime, the de-listing sent the TORN token soaring. However, the Treasury hinted at potential future actions, suggesting the complete removal of sanctions might have 'disruptive consequences'. Co-founder Roman Storm still faces criminal trial.