TORNADO CASH OFAC RULING

Summary from the TLDR Crypto newsletter

The government has officially won its case alleging Tornado Cash committed OFAC violations. The courts deemed the Tornado Cash entity as sanctionable, based on grounds that the founders, DAO, and developers profited from smart contracts used for mixing funds - some of which were tied to suspect activities. Critics argue key legal concerns were not properly addressed, including the lack of process for US citizens whose funds are now trapped in the Tornado Cash contract.