United States of America: US Treasury removed sanctions against Tornado Cash

On 21 March 2025, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) removed Tornado Cash and its associated Ethereum (ETH) wallet addresses from the Specially Designated Nationals and Blocked Persons List (SDN List). Tornado Cash was originally designated on 8 August 2022 for facilitating the laundering of proceeds derived from cyber-enabled activities originating outside the United States that were determined to pose a significant threat to US national security, foreign policy, economic health, or financial stability. According to OFAC, the platform had been used to launder over USD 7 billion in virtual currency since its launch, including more than USD 455 million stolen in 2022 by actors associated with the Democratic People’s Republic of Korea.