Members of the House of Representatives demand the Treasury Department answer how to handle Tornado Cash

2024-11-19 11:34:32

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ChainCatcher news, several Democratic members of the U.S. House of Representatives have requested Treasury officials to answer how to handle the cryptocurrency mixing service Tornado Cash, which was approved in 2022 but is still in operation.

Legislators, including cryptocurrency critic Brad Sherman, stated in a letter on November 14: "We are writing to request more information about the continued use of the cryptocurrency mixing service Tornado Cash after the implementation of sanctions. Despite being sanctioned, Tornado Cash remains online and continues to function as a decentralized smart contract."

The legislators pointed out that there has been a "resurgence" in the use of mixers this year, with Tornado Cash receiving $1.8 billion in deposits in the first half of 2024, a 45% increase compared to the entire year of 2023, and added: "There are currently no signs that this issue will disappear anytime soon."

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