US Announces Sanctions Against Currency Mixer Tornado Cash

Join the Trading Community: Learn & Earn with BingX.

Today’s Cryptocurrency Headline

U.S. Department of the Treasury added cryptocurrency mixing service Tornado Cash to its sanctioned list, with all U.S. individuals and entities banned from interacting with Tornado Cash or any Ethereum wallet addresses associated with the protocol. It is reported that the protocol’s website and the list of smart contracts associated with the project have now been blocked. This is the first time the U.S. has approved sanctions on an on-chain DeFi protocol.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to CoinShare, Digital asset investment products saw inflows totalling US$3m last week marking the 6th consecutive week of inflows that total US$529m. Bitcoin is up 1.92% over the last 24 hours and rose to an intraday high of $24,248.31. The largest cryptocurrency rose above the $24,000 price level, but the price was unable to sustain above it, indicating the sellers remain active at the higher level. The 20-day EMA is sloping up and the relative strength index (RSI) is in the positive territory, indicating that bulls are in control.  If buyers push the price above the overhead resistance at $24,668, the BTC/USDT pair could pick up momentum and rally to $28,000.

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.