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US Announces Sanctions Against Currency Mixer Tornado Cash

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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.

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