Treasury decides Tornado Cash isn’t so bad

The Treasury Department announced it would lift sanctions against Tornado Cash, a decentralized crypto enterprise that the Biden administration once described as a “notorious” vector for money laundering.

In a release today, Treasury said it had “exercised our discretion” and removed sanctions against Tornado Cash. Crypto advocates pushed hard to undo the Biden-era crackdown on this DeFi firm. Condemnation from some Democrats, meanwhile, was swift.