What does sanctioning tornadocash actually mean? Does this mean I can be prosecuted for using it?
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Yes. The executive order is extremely poorly explained, but a conservative interpretation would be you can be sentenced to 30 years in jail for even visiting the website or viewing the source code
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READ THIS THREAD OR GO TO JAIL FOR 30 YEARS (sorry not kidding)
Tornado Cash added to US sanctions list - $437m of assets blocked.
What is OFAC, what are sanctions, and what does this mean for DeFi 
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It means that the government is taking a very bold stance against open sourced software and testing the limits of crypto regulation under current law.
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"Once a U.S. person determines that they hold virtual currency ... the U.S. person must deny all parties access to that virtual currency, ensure that they comply with OFAC regulations ..., and implement controls that align with a risk-based approach." home.treasury.gov/policy-issues/
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Just don’t use with any of your “known” wallets in the U.S. There should be some forks soon that may not be covered by this edict.
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If you're a financial institution, interacting with tornadocash was illegal all along, but now the prosecution is easier because some elements of the crime are pre-established. If you're an individual, I believe it was illegal all along but only if additional conditions are met.
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