Panama’s “bitcoin (BTC) and crypto-friendly” bank Towerbank says it will bar its customers from making use of crypto mixers – in the wake of the United States Office of Foreign Assets Control (OFAC)’s move to sanction Tornado Cash earlier this month.
As previously reported, the OFAC has added the Ethereum (ETH)-powered crypto mixing service to its Specially Designated Nationals list, with Dutch police arresting a suspected Tornado developer who “facilitated money laundering” this week.
Latin American parties are also responding – with Towerbank apparently taking the lead in Panama. Experts, however, have stated that it is likely that the Panamanian banking regulator will follow up with a move of its own.
CriptoNoticias reported that Towerbank users who use Tornado could face sanctions such as account suspensions or further punitive measures.
The media outlet quoted the head of the bank’s crypto and blockchain division, Gabriel Campa, as stating that crypto mixers are “often used for...
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