The US Treasury Department announced on March 21 that it has removed the cryptocurrency mixer Tornado Cash from its sanctions list. This decision follows a ruling by a US appeals court in January, which deemed the sanctions unlawful, stating that Tornado Cash's smart contracts cannot be classified as the property of any foreign national. As a result, several dozen smart contract addresses on the Ethereum blockchain were lifted from sanctions. Following the news, Tornado Cash's native token, TORN, surged approximately 60%, with a market capitalization of around $73 million as of March 21. The Office of Foreign Assets Control (OFAC), responsible for administering economic and trade sanctions, acknowledged this significant ruling.

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