Regulation

US Treasury Department requiring US citizens to get a license for withdrawing assets from Tornado Cash

The U.S. Division of the Treasury wants individuals who had pending transactions earlier than the Twister Money sanctions went into place to use for a license to course of the withdrawal of their belongings.

In an FAQ response on Sept. 13, the Treasury mentioned the coverage applies to transactions initiated earlier than the sanctions have been carried out on Aug. 8.

Customers who had despatched cryptocurrency to Twister Money however didn’t full the blending transaction earlier than the designated date can apply for a withdrawal license from the OFAC.

“U.S. individuals or individuals conducting transactions inside U.S. jurisdiction could request a particular license from OFAC to have interaction in transactions involving the topic digital forex.”

Affected customers are required to submit detailed data regarding their interplay with Twister Money, together with pockets deal with, transaction hashes, date and time of the transaction(s), in addition to the quantity concerned.

Open-source code not prohibited

The Treasury added that whereas facilitating transactions by Twister Money stays prohibited within the U.S., interacting with open-source codes will not be prohibited.

“U.S. individuals wouldn’t be prohibited by U.S. sanctions rules from copying the open-source code and making it out there on-line.”

CryptoSlate reported beforehand that Professor Matthew Green re-uploaded the Twister Money supply code on GitHub to show his college students about cryptocurrency and zero-knowledge expertise.

The publish US Treasury Division requiring US residents to get a license for withdrawing belongings from Twister Money appeared first on CryptoSlate.



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