Cryptocurrency News

Rep. Emmer demands an explanation of OFAC’s Tornado Cash sanction from Sec. Yellen

2022.08.24 03:02

Rep. Emmer demands an explanation of OFAC’s Tornado Cash sanction from Sec. Yellen
Rep. Emmer demands an explanation of OFAC’s Tornado Cash sanction from Sec. Yellen

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 Foreign Assets Control (OFAC).

Emmer said that OFAC, acting under Executive Order 13694 to place Tornado Cash on its Specially Designated Nationals and Blocked Persons List (SDN), has for the first time extended the EO’s definition of person or individual to include code. He pointed to the distinction made by the Treasury’s Financial Crimes Enforcement Network (FinCEN) between anonymizing services and anonymizing software to illustrate the issue he saw in OFAC’s action while acknowledging that OFAC is not subject to FinCEN regulations.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 103,029.60 1.79%
ethereum
Ethereum (ETH) $ 3,365.08 0.24%
xrp
XRP (XRP) $ 3.22 2.71%
tether
Tether (USDT) $ 1.00 0.00%
solana
Solana (SOL) $ 224.83 6.13%
bnb
BNB (BNB) $ 704.13 1.40%
dogecoin
Dogecoin (DOGE) $ 0.40728 5.67%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 1.10 1.52%
staked-ether
Lido Staked Ether (STETH) $ 3,363.51 0.34%
tron
TRON (TRX) $ 0.247687 2.36%
avalanche-2
Avalanche (AVAX) $ 40.57 0.37%
chainlink
Chainlink (LINK) $ 24.43 3.16%
stellar
Stellar (XLM) $ 0.473123 3.56%
sui
Sui (SUI) $ 4.78 0.51%
hedera-hashgraph
Hedera (HBAR) $ 0.372604 3.60%
shiba-inu
Shiba Inu (SHIB) $ 0.000024 4.27%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,038.56 0.49%
the-open-network
Toncoin (TON) $ 5.47 0.94%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 102,734.53 1.77%
polkadot
Polkadot (DOT) $ 7.25 0.27%
weth
WETH (WETH) $ 3,368.55 0.33%
litecoin
Litecoin (LTC) $ 128.63 4.97%
bitcoin-cash
Bitcoin Cash (BCH) $ 476.96 0.22%
leo-token
LEO Token (LEO) $ 9.76 0.13%
uniswap
Uniswap (UNI) $ 14.43 1.05%
bitget-token
Bitget Token (BGB) $ 7.03 0.91%
pepe
Pepe (PEPE) $ 0.00002 5.19%
hyperliquid
Hyperliquid (HYPE) $ 22.18 4.87%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,584.10 1.00%
near
NEAR Protocol (NEAR) $ 5.59 5.41%
usds
USDS (USDS) $ 0.99854 0.18%
ethena-usde
Ethena USDe (USDE) $ 0.997329 0.30%
aptos
Aptos (APT) $ 9.46 1.13%
internet-computer
Internet Computer (ICP) $ 10.92 2.25%
aave
Aave (AAVE) $ 322.61 1.49%
vechain
VeChain (VET) $ 0.053713 0.38%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.492711 1.77%
ethereum-classic
Ethereum Classic (ETC) $ 27.40 1.41%
monero
Monero (XMR) $ 219.58 1.65%
render-token
Render (RENDER) $ 7.72 2.12%
crypto-com-chain
Cronos (CRO) $ 0.141808 3.05%
algorand
Algorand (ALGO) $ 0.458073 6.34%
bittensor
Bittensor (TAO) $ 466.67 3.57%
kaspa
Kaspa (KAS) $ 0.147397 0.27%
mantle
Mantle (MNT) $ 1.09 3.28%
dai
Dai (DAI) $ 1.00 0.02%
mantra-dao
MANTRA (OM) $ 3.73 3.40%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.37 1.58%
filecoin
Filecoin (FIL) $ 5.58 4.14%