Under Donald Trump’s wing, the US Treasury Department has lifted sanctions against Tornado Cash. The move has been seen as a major win for decentralization – a core tenet of blockchain tech.
Albeit a hero for crypto investors who value financial freedom, this open-source, non-custodial crypto mixer’s story has not been without its troubles.
The Crypto Mixer Behind $7B+ in Theft
Tornado Cash gives investors financial freedom by obscuring their transaction trails. It blocks centralized authorities from monitoring and possibly controlling crypto activities.
However, its reputation for enabling financial freedom has also drawn the wrong kind of attention. For example, it has historically enabled hackers, including those from the North Korea-linked Lazarus Group, to launder profits.
To put its power into perspective, the mixer has facilitated the theft of at least $7B worth of crypto – $455M of which was stolen by the Lazarus Group alone.Once the US Office of Foreign Assets Control (OFAC) fully understood its capabilities, Tornado Cash was placed on its sanctions list in August 2022.
But in November 2024, a US Fifth Circuit Court ruling challenged Tornado Cash sanctions. It pleaded that OFAC acted beyond its authorized powers, arguing they can’t ban the mixer because it operates through immutable smart contracts, not ‘property.’
The ruling prevailed, and the Tornado Cash sanction was lifted on March 21 – but it might not be revoked forever.In a recent X post, Paul Grewal (Coinbase’s Chief Legal Officer) pointed out that the Treasury Department’s claim that the case is ‘moot’ is not legally valid. Not unless they can prove history won’t repeat itself and similar actions won’t occur, anyway.
Nonetheless, OFAC lifting the Tornado Cash sanction is a significant win for the crypto landscape. For once, decentralization’s coming out on top. Privacy and freedom pundits are celebrating the fact they can be financially independent and in complete control of their crypto earnings.
Those seeking full anonymity on-chain are also turning to no-KYC crypto wallets like Best Wallet, which let you buy, sell, and manage crypto with minimal friction and third-party oversight.
For ultimate security, it’s a good idea to pair Best Wallet and Tornado Cash to hide your transactional footprint from criminals and the government alike.
Join Best Wallet to Bypass All Centralized Control
Best Wallet is a top no-KYC, non-custodial crypto wallet. Compared to a centralized exchange wallet that requires you to submit your personal data and control of your private keys, Best Wallet lets you stay anonymous and hold onto your own keys.
Its mobile app lets you start buying 1K+ cryptocurrencies straight away (including top meme coins). Not having to undergo KYC verification beforehand means hot investment opportunities won’t slip you by.
Plus, it’s the first-ever crypto wallet to feature the best crypto presales. Buying coins at their lowest prices before they’re listed and attract mainstream attention means you’ll benefit from the initial price surge that often occurs post-launch.
For example, if you buy the wallet’s native token, $BEST, you’ll get lower transaction fees when using Best Wallet, exclusive early access to new tokens, and a say in key decisions within the Best Wallet ecosystem.
You can also stake $BEST for passive income, currently at an impressive 139% APY.
It costs $0.02445 to buy one $BEST on presale right now. Our Best Wallet Token Price Predictions foresee it spiking by over 194% and hitting $0.072 by the end of this year (following new developments, like the debut of its own crypto debit card), so now could very well be a good time to get involved.
Verdict – Best Wallet Gives Crypto Privacy a Boost
Ultimately, the lifting of the Tornado Cash sanction marks a pivotal moment in the crypto story, a vote for the principles of freedom and privacy that decentralization enables.
Best Wallet stands for similar values. By being fully non-custodial and bypassing KYC verification, Best Wallet honors and defends your rights to privacy and control of your own property.
As the adage goes – not your keys, not your crypto.Best Wallet lets you buy, sell, trade, and manage over 1K cryptos without centralized oversight. You can reduce your digital attack surface and trade thousands of cryptos with confidence, all from within its easy-to-use mobile app.
But, as always, do your research. Your crypto investments are your responsibility, and this is not financial advice.