Why was tornado cash arrested in Amsterdam?

The arrest in Amsterdam marks an escalation in global authorities’ crackdown against Tornado Cash and other crypto mixers. Such services operate by pooling together contributors’ funds and then redistributing them, making it harder for law enforcement to track the digital breadcrumbs that accompany cryptocurrency transactions.

Is Amsterdam cashless?

As part of its plan to make public transportation completely cashless, Amsterdam is working on making it more cashless. Since 2018, debit or credit cards have been the only accepted payment methods for ticket purchases. Cash has been prohibited from riding on buses and trams. Do You Need Cash In The Netherlands?

Who is tornado cash?

A 29-year-old man has been arrested in Amsterdam for his suspected involvement in the development of Tornado Cash — a crypto mixer service that was banned earlier this month by the US Department of the Treasury for its role in laundering money from large-scale hacking operations, including those linked to state-sponsored North Korean cybergangs.

What currency is used in Amsterdam?

As in all of the Netherlands and many other European countries, the euro (EUR, *****) is the most widely accepted currency in Amsterdam. As one of the first countries to adopt cashless payment systems, the Netherlands has made significant progress.