Regulatory pressure on cryptocurrencies is now resulting in the opposite effect. Following the removal of bans and the introduction of regulatory clarity, we are starting to see the impacts reflected in price charts. Recently, after an announcement from the U.S. Treasury Department, a controversial altcoin saw an increase of 80%.
TORN Coin Sees Significant Growth
The TORN coin was removed from the U.S. OFAC sanctions list. The official announcement stated that TORNADO CASH, its website tornado(.)cash, and numerous wallets have been cleared from the sanctions list. Previously, the U.S. Treasury’s Office of Foreign Assets Control had added Tornado to the sanctions list due to its use by North Korean hackers.
The arrest of the developer highlighted negative discrimination against open-source software in the context of cryptocurrencies. For some time, Coinbase has been urging the U.S. government to rectify this issue, and now the Treasury Department has taken the necessary steps to resolve it.
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