CoinVoice has learned that several Democratic U.S. House of Representatives members have asked Treasury officials to answer how to deal with Tornado Cash, a cryptocurrency mixing service that was approved in 2022 but is still operating.
“We write to request additional information regarding the continued use of the cryptocurrency mixing service Tornado Cash following the imposition of sanctions,” the lawmakers, including cryptocurrency critic Brad Sherman, said in a Nov. 14 letter. “Despite the sanctions, Tornado Cash remains online and continues to function as a decentralized smart contract.”
The lawmakers noted a “resurgence” in mixer usage this year, with Tornado Cash accepting $1.8 billion in deposits in the first half of 2024, a 45% increase compared to all of 2023, adding: “There is no sign that this problem will go away anytime soon.” [Original link]