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BrianKrebs

Wow. The US Treasury Dept. today announced it is lifting sanctions on Tornado Cash, a cryptocurrency mixing service that state-sponsored hackers from North Korea have been massively using to launder their stolen billions.

"Based on the Administration’s review of the novel legal and policy issues raised by use of financial sanctions against financial and commercial activity occurring within evolving technology and legal environments, we have exercised our discretion to remove the economic sanctions against Tornado Cash as reflected in Treasury’s Monday filing in Van Loon v. Department of the Treasury."

home.treasury.gov/news/press-r

h/t to @ncweaver for the heads up. Weaver said: "The US government has just said "money laundering is legal as long as the process is automated."

"Every wei that flows through Tornado Cash, even if 'legitimate,' is helping the North Korean nuclear regime by hiding illegitimate flows," Weaver told me.

Here's Treasury sanctioning Tornado Cash in 2022: home.treasury.gov/news/press-r

U.S. Department of the Treasury
U.S. Department of the TreasuryTornado Cash DelistingWASHINGTON — Based on the Administration’s review of the novel legal and policy issues raised by use of financial sanctions against financial and commercial activity occurring within evolving technology and legal environments, we have exercised our discretion to remove the economic sanctions against Tornado Cash as reflected in Treasury’s Monday filing in Van Loon v. Department of the Treasury.  We remain deeply concerned about the significant state-sponsored hacking and money laundering campaign aimed at stealing, acquiring, and deploying digital assets for the Democratic People’s Republic of Korea (DPRK) and the Kim regime.  Treasury remains committed to using our authorities to expose and disrupt the ability of malicious cyber actors to profit from their criminal activities through the exploitation of digital assets and the digital assets ecosystem.  We are also committed to enforcing our sanctions against the DRPK to constrain the regime’s ability to fund its weapons of mass destruction and ballistic missile programs.  Treasury will continue to monitor closely any transactions that may benefit malicious cyber actors or the DPRK, and U.S. persons should exercise caution before engaging in transactions that present such risks.“Digital assets present enormous opportunities for innovation and value creation for the American people,” said Secretary of the Treasury Scott Bessent.  “Securing the digital asset industry from abuse by North Korea and other illicit actors is essential to establishing U.S. leadership and ensuring that the American people can benefit from financial innovation and inclusion.”View identifying information on today’s action.###
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Xavier «X» Santolaria :verified_paw: :donor:

@briankrebs @ncweaver

money laundering is legal as long as the process is automated.

Next thing you know, automated killing will be legal too, as long as it's automated?

Hobson Lane

@0x58
arent teslas and self driving ubers already deploying that innovation?
@briankrebs @ncweaver

Mar 22, 2025, 01:01 AM·Quiet public·Fedilab
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