Skip to Primary Navigation

OFAC’s Tornado Cash redesignation raises more questions than answers

Ethereum coins, US dollars, mobile phone
Photo: Getty Images

Legal challengers accuse OFAC of ‘not understanding the technology’ as Treasury attempts to define designation.

The redesignation of coin mixer Tornado Cash by the US Treasury Department has, far from clarifying the basis for an action currently the subject of legal challenge, thrown up further questions and muddied the waters of regulation.

On November 8, the Office of Foreign Assets Control (OFAC) cited the role of