On August 8, 2022, Tornado Cash was sanctioned by the U.S. Treasury for allegedly failing to implement sufficient controls to prevent its use in laundering funds for malicious cyber actors. Consequently, an avalanche of regulations shook the landscape of privacy-focused cryptocurrencies. Tornado Cash became illegal in the U.S., and Zcash and Monero were delisted from many exchanges. Under regulatory pressure, new mechanisms were developed to preserve the privacy of innocent users while isolat...