The US Treasury Department’s actions against Tornado Cash were unlawful, and it can’t sanction the crypto mixer again, a Texas federal court judge has ruled.
Sanctions News
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US officials sanctioned eight crypto wallet addresses tied to Russian exchange Garantex and the Yemeni Houthi movement after blockchain forensics linked nearly $1 billion in funds to Houthi operations.
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A US-led tariff war, preexisting economic sanctions, and global Bitcoin and stablecoin adoption could play a role in some countries’ attempts to dedollarize.
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Russian oil firms are using Bitcoin and USDt for trade with China and India despite global sanctions, according to Reuters.
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Crypto exchange Garantex halted trading and withdrawals after Tether froze about $27 million of its stablecoin USDT tied to the platform.
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A THORChain dev has backed out and a validator is threatening to follow as North Korean hackers have reportedly sent $605 million worth of crypto through the protocol.
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A Chainalysis report has revealed that US-sanctioned jurisdictions, including Iran and Russia, moved $15.8 billion in crypto in 2024, with mixing services aiding evasion.
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The sanctioned agents were allegedly generating funds for North Korea’s nuclear weapons development program.
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Tornado Cash co-founder Roman Storm has petitioned a judge to drop criminal charges against him after an appeals court found the Treasury unlawfully sanctioned the crypto mixer.
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The digital rial is being developed for retail purposes so far, but the integration of Iranian payment systems with Russia may foil US sanctions.
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Economic sanctions have a profound effect on international financial architecture, it turns out.
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Two crypto exchanges and two individuals have been sanctioned for ties to underground finance.
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A spokesperson confirmed that Binance continues to serve a “limited number of existing Russian users” a year after announcing its full exit from Russia.
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Hindenburg Research has uncovered evidence of big problems with a major AI hardware provider.
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Binance denied reports suggesting that the crypto exchange seized funds from all Palestinians, stating that only a small number of accounts were restricted.
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