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OFAC's decision to sanction Tornado Cash is unprecedented, marking the first time that software has been targeted for sanctions. OFAC’s sanctioning authority extends only to persons or property. Yet, Tornado Cash is neither a person nor property: It is owned by nobody, controlled by nobody and functions automatically without human
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United States Congressman Tom Emmer sent a four-page letter to Treasury Secretary Janet Yellen on Tuesday regarding the Treasury Department’s sanctioning of cryptocurrency mixer Tornado Cash on Aug. 8. In his letter, Emmer posed a series of questions that seek to clarify the position of the Treasury Department’s Office of
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The U.S. government sanctioned a crypto exchange for the first time last week, escalating its fight against ransomware and proclaiming that crypto regulation will not be free of enforcement actions.The other major storyline last week came from China, which once again announced it was taking on crypto activities, this time
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