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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Early on August 8, 2022, it was announced by the U.S. Treasury that Tornado Cash was added to the U.S. OFAC (Office of Foreign Assets Control) SDN list (the list of specially designated nationals with whom Americans and American businesses are not allowed to transact). Tornado Cash, a non-custodial open source software project built on Ethereum, allowed users to mix their coins through the use of the Tornado Cash smart contract, obfuscating the previous trail of the coins (which are of course being transacted across a transparent ledger).





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