Today in crypto, the US Treasury Department officially removed the crypto mixer Tornado Cash from its sanctions list. This decision follows a court ruling stating that Tornado Cash's smart contracts are not owned by any foreign nationals and thus cannot be sanctioned. Following the announcement, the Tornado Cash (TORN) token saw a significant increase of around 60%. Meanwhile, investor sentiment is declining as many turn towards safer digital asset investments amid rising scams and geopolitical tensions. Notably, Bitcoin's hot supply metric, which reflects speculative trading, has dropped from 5.9% in November to just 2.3% as of March 20. In regulatory news, the Australian government has announced a new framework aimed at regulating digital asset exchanges and addressing debanking, which will impose compliance requirements similar to existing financial services laws. A draft of the legislation is expected for public consultation, ahead of a tightly contested federal election.

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