U.S. Treasury alleged that Tornado Cash facilitated the laundering of over $7 billion in illicit funds since its launch in 2019, prompting the agency’s 2022 decision to sanction the platform for its alleged role in enabling financial crimes

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The US Treasury sanctioned Tornado Cash in 2022, claiming that the protocol had facilitated more than $7 billion in illicit transactions.

In March, the U.S. Treasury removed Tornado Cash from its list of entities sanctioned by the Office of Foreign Assets Control, or OFAC. The restrictions, which prevented anyone in the U.S. from using the service, were first imposed in 2022. At the time, the U.S. Treasury said that Tornado Cash had been used to “launder more than $7 billion” since its creation in 2019.