China’s Cyberspace Administration issues warning on promotional cryptocurrency material

The Cyberspace Administration of China (CAC) issued a new warning about “illegal information, accounts and websites” promoting cryptocurrency on August 9. CAC on a mission to clean up cryptocurrency propaganda In May 2021, authorities clamped down on Proof-of-Work mining. This was soon followed by the People’s Bank of China enacting a complete ban on cryptocurrency […]

Circle says freezing wallets went against its beliefs on an open internet

USDC stablecoin issuer Circle released a statement to clarify its stance after freezing all ETH addresses affected by the U.S. Treasury Department‘s sanction against Tornado Cash. In compliance with regulatory requirements following the ban, Circle had to activate a “blacklist function” to freeze the blacklisted accounts. By implication, all USDC funds held in the wallets cannot be […]

Alchemy and Infura block access to Tornado Cash as Vitalik Buterin weighs in on debate

U.S. persons and entities must comply with the Treasury’s sanctions or face possible criminal consequences. According to Twitter user @0xdev0, on Monday, Web3 development platform Alchemy and Infura.io blocked remote procedure call (RPC) requests to cryptocurrency mixer Tornado Cash, preventing users from accessing the applications. The day prior, the U.S. Treasury placed 44 smart contract […]