US Treasury redesignates Tornado Cash sanctions, citing North Korea nuclear weapons program

2 months ago 35

The redesignation of the crypto mixer fundamentally replaces the U.S. Treasury’s actions from August, establishing sanctions for its relation successful “enabling malicious cyber activities."

US Treasury redesignates Tornado Cash sanctions, citing North Korea atomic  weapons program

The United States Treasury Department's Office of Foreign Asset Control, oregon OFAC, has amended the sanctions connected cryptocurrency mixer Tornado Cash successful summation to including 2 individuals progressive successful “transportation and procurement activities” for the Democratic People’s Republic of Korea successful its database of Specially Designated Nationals.

In a Nov. 8 announcement, the Department of the Treasury said it had “delisted and simultaneously redesignated” Tornado Cash successful summation to taking into relationship activities conducted by North Korean nationals Ri Sok and Yan Zhiyong successful its ground for sanctions. The authorities section reiterated its claims that the crypto mixer was progressive successful laundering $455 cardinal successful crypto stolen by the North Korea-affiliated Lazarus Group.

The redesignation of Tornado Cash fundamentally replaces Treasury’s actions against the crypto mixer successful August, establishing sanctions for its relation successful “enabling malicious cyber activities, which yet enactment the DPRK’s [weapons of wide destruction] program.“ The archetypal sanctions included the Lazarus Group, but did not amusement connections with North Korea’s atomic program.

“Today’s sanctions enactment targets 2 cardinal nodes of the DPRK’s weapons programs: its expanding reliance connected illicit activities, including cybercrime, to make revenue, and its quality to procure and transport goods successful enactment of weapons of wide demolition and ballistic rocket programs,” said Brian Nelson, Under Secretary of the Treasury for coercion and fiscal intelligence.

Related: Deribit hackers determination stolen Ether to Tornado Cash crypto mixer

Many successful the crypto abstraction person been progressive successful lawsuits against the U.S. Treasury pursuing the sanctions against the mixer. A radical of investors backed by U.S.-base crypto speech Coinbase took ineligible enactment successful September, claiming that Treasury’s sanctions of 44 USD Coin (USDC) and Ether (ETH) addresses connected to Tornado Cash were "not successful accordance with law." Crypto advocacy radical Coin Center besides filed a lawsuit against the authorities section successful October, saying the mixer was a “privacy instrumentality beyond the power of anyone.”

North Korea fired respective missiles implicit bluish Japan successful the past month, though nary impacted the land federation oregon straight caused immoderate casualties. The United States has 7 bases for antithetic subject branches connected Japan’s mainland.

Read Entire Article