The ban of Tornado Cash in the U.S. could have ripple effects across Web3 protocols, particularly ones that offer privacy on the blockchain.
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The ban of Tornado Cash in the U.S. could have ripple effects across Web3 protocols, particularly ones that offer privacy on the blockchain.
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Tether’s market capitalization has reversed a three-month downtrend while USDC sees a drop in value after the U.S. imposed sanctions against Tornado Cash.
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“By treating autonomous code as a ‘person’ OFAC exceeds its statutory authority,” said Coin Center’s Jerry Brito and Peter Van Valkenburgh.
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The peer-elected signatories for Tornado Cash’s community fund have left the management of the wallet to the DAO.
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Github, Circle, dYdX, Alchemy, and Infura… All platforms have taken action against Tornado Cash or individuals connected to the mixer following U.S. sanctions.
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