The U.S. Treasury Department has reversed sanctions on Tornado Cash, a cryptocurrency “mixer” previously accused by the Biden administration of laundering over $7bn, including funds for North Korea’s Lazarus hacking group, following a court ruling that the Office of Foreign Assets Control exceeded its authority in 2022. This decision aligns with President Donald Trump’s crypto-friendly policies, including establishing a U.S. cryptocurrency reserve, though Treasury Secretary Scott Bessent emphasized ongoing concerns about North Korea’s cyber threats, saying: “Securing the digital asset industry from abuse . . . is essential to establishing U.S. leadership.” The move comes amid legal battles, with co-founder Roman Storm awaiting trial in the U.S. and developer Alexey Pertsev already sentenced in the Netherlands for related money laundering charges.
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