Court Victory for Treasury and Indictment of Tornado Cash Founders Highlights AML and Sanctions Risks for DeFi Crypto Platforms

In a long-awaited decision involving the cryptocurrency “mixer” Tornado Cash, a U.S. district court on August 17, 2023, upheld the broad authority of the Department of the Treasury’s (Treasury’s) Office of Foreign Assets Control (OFAC) to sanction non-U.S. associations operating in the cryptocurrency decentralized finance (DeFi) space….
By: Skadden, Arps, Slate, Meagher & Flom LLP
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