The creators of the crypto mixing and privacy tool Tornado Cash have been accused of money laundering by the U.S. authorities, which have referred to them as “criminals. In other developments, the United States Court of Appeals for the District of Columbia sided with cryptocurrency asset manager Grayscale in their legal battle with the Securities and Exchange Commission of the United States (SEC). The most recent News Week in Review is below, along with a lot more information.

Founders of Crypto Mixer Tornado Cash Accused of Laundering $1 Billion

The creators of the Tornado Cash cryptocurrency mixing service were accused last week of aiding in the laundering of over $1 billion in digital currency, including money obtained by North Korean hackers.

Court Rules in Favor of Grayscale Against SEC in Bitcoin ETF Conversion Lawsuit

The largest cryptocurrency asset manager, Grayscale, won its legal battle against the U.S. Securities and Exchange Commission’s decision to refuse the conversion of GBTC into a spot bitcoin exchange-traded fund (ETF) in a D.C. court. The circuit court presiding over the Grayscale-SEC case stated that the securities regulator “failed to explain its different treatment of similar products.”

Oil Giants Joining BRICS a Strategic Success for China and Russia, Expert Says

According to a German researcher, the BRICS economic bloc’s addition of a number of oil titans “is a strategic success for China and Russia. At their most recent annual conference, the BRICS leaders declared that they have extended invitations to Saudi Arabia, the United Arab Emirates, Iran, Argentina, Egypt, and Ethiopia to become new members.

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