American thinner sanctions on Cash Tornado, Cripto ‘Mixer’ Accused to launder money North Korea

Author: Hannah Lang

(Reuters) – American treasury abolished economic sanctions against Tornado Cash, a firm that accuses the cryptocurstiness, to which the administration has accused that it helped to be used for washing more than 7 billion dollars for northern Korean hackers.

Office of foreign funds for state assets in black list in black list, after concluding that it helped to wash income from cyber crimes, including more than $ 455 million stolen from Lazar, North Korean government hacking group.

Six users Tornado Cash – Criptocurrency “mixer” that diminishes origin and recipients of transactions – submitted a lawsuit to challenge sanctions with financial making crypto on coinbazia.

In November, he founded the OFAC to the American Appeals Court, but the sanctions remained in place.

In the statement, the vault said that she decided to abolish them after reviewing legal and political issues set by the use of sanctions within “developing technologies and legal environments.”

Nevertheless, the Ministry of Finance said that “North Korea” spotting the character and money laundering campaign “through which she stole digital assets for financing government activities stolen.

“Securing the digital property industry from the abuse of North Korea and other illegal actors is essential and ensuring that the American people can benefit from financial innovation and inclusion,” said the Secretary of Scott Besent in the meaningless mucosa.

President Donald Trump sought a broad overhaul of American cryptocurlency policy and this month was signed by an executive order to establish a strategic cryptocurri reserve. He also held a summit for leaders in the industry in the White House.

Two co-founder of the cash tornado are charged in 2023. years, and make it easier for more than a billion dollars money laundering, including Lazarus Group. One, Roman storm, expects a trial and denied to engage in criminal activities.

Last May, one of the programmer Tornado Cash, Alexeja Pertsev, was sentenced to five years and four months in prison in the Netherlands for money laundering.

(Reporting Hannah Lang in New York; Editing Kevin Liffe)