**News Flash: Fed Report on Tornado Cash Sanctions**
The Federal Reserve Bank of New York has released a report on the impact of sanctions on Tornado Cash, a crypto mixer blocklisted by the U.S. Treasury in 2022. The report concludes that sanctions are effective, even in decentralized finance.
Key Points:
- Tornado Cash usage dropped significantly post-sanction but has since recovered.
- Ethereum's shift from proof-of-work to proof-of-stake occurred around the same time.
- The report highlights Ethereum's "fragile" censorship resistance.
- Tornado Cash developers face legal actions, with one convicted and others charged.
Stay tuned for more updates on this evolving story.