US Removes Tornado Cash Sanctions After Court Ruling
The Most Important Points at a Glance
- The US government has removed Tornado Cash from the sanctions list.
- The price of the TORN token temporarily surged by 100% but later dropped again.
- The decision could have far-reaching consequences for privacy technologies in the crypto sector.
Background: Why Was Tornado Cash Sanctioned?
In August 2022, the US Treasury Department placed Tornado Cash on the sanctions list. The reason: The platform was allegedly used by North Korean hackers to launder stolen cryptocurrencies worth billions of US dollars.
Tornado Cash is a so-called crypto mixer. Such services obscure transaction traces by mixing and redistributing different deposits. Critics argued that this facilitated illegal activities, while supporters emphasized the protection of privacy for legitimate users.
Court Ruling: OFAC Exceeded Its Authority
In November 2024, a US court ruled that the Office of Foreign Assets Control (OFAC) had exceeded its authority when it sanctioned Tornado Cash. Nevertheless, the platform remained on the sanctions list until March 2025.
With the latest decision, this measure has now been reversed. However, US Treasury Secretary Scott Bessent emphasized that combating abuse by North Korean actors remains a top priority.
Market Reaction: TORN Price Surges – and Drops Again
Following the announcement of the decision on March 21, 2025, the value of the TORN token doubled in the short term. The price jumped from 8 US dollars to nearly 16 US dollars. However, just a few hours later, the token lost most of these gains again.
Such strong price movements are typical for regulatory decisions in the crypto sector. Investors often react impulsively to news before the market stabilizes again.
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Reactions from the Industry
Brian Armstrong, founder of Coinbase, welcomed the decision. He emphasized that privacy is an essential feature for many users and that open-source code cannot be sanctioned.
Balaji Srinivasan, former CTO of Coinbase, even called for a complete rehabilitation of Tornado Cash developers Roman Storm and Alexey Pertsev. Both had been criminally prosecuted in connection with the sanctions.
Our Assessment
The lifting of sanctions against Tornado Cash could serve as a precedent for other privacy projects in the crypto sector. At the same time, the regulation of crypto mixers remains a sensitive issue. Governments worldwide face the challenge of preventing illegal activities without infringing on legitimate privacy interests.
For investors, this event once again highlights how significantly regulatory decisions can impact the crypto market. Anyone investing in such projects should be aware of the political and legal risks.
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