OKX Takes Action: Accounts Involving Tornado Cash To Be Banned
OKX bans accounts linked to Tornado Cash to prevent illicit activity and comply with international laws. The exchange's risk control systems automatically close such accounts. CEO Star Xu emphasized the need to follow relevant sanctions rules, particularly those enforced by the United States. Users with large transactions via approved exchanges or DeFi systems were allowed to withdraw clean money before their accounts were banned. OKX's crackdown follows a trend in the crypto industry towards regulatory compliance and legality. Binance and Kraken have also delisted privacy coins and prohibited mixing. Tornado Cash, founded in 2019, has faced regulatory scrutiny, with one of its founders sentenced to jail for breaking anti-money laundering regulations.
