US Treasury: Tornado Cash Has Been Used to Launder More Than $7 Billion

According to information disclosed on the official website of the US, virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019. Secretary of the Treasury Brian E. Nelson said the Treasury will continue to aggressively pursue actions against mixers that launder virtual currency for criminals and those who assist them. It is reported that all property and interests of Tornado Cash that is in the United States or in the possession or control of U.S. persons is blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked. All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.