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Benzinga
Benzinga
Business
Murtuza Merchant

How Will The Tornado Cash Sanction Affect DeFi?

USDC Ethereum Crypto Lazarus Group

U.S. Secretary of State Antony Blinken said on Aug. 8 that the country sanctioned Tornado Cash (CRYPTO: TORN), a decentralized application on the Ethereum (CRYPTO: ETH) blockchain that allows the anonymous transfer of Bitcoin (CRYPTO: BTC).

The reasoning behind it, as well as how it was executed, has angered the crypto community and may be a precursor of a serious government crackdown on the industry.

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