The price of TORN, the native token of popular crypto mixer Tornado Cash, experienced a drop of more than 50% from $3.93 to around $1.80 after Binance announced it has made the decision to delist the asset.
The exchange will reportedly remove TORN from the list of available assets on December 7, along with BitShares (PTS), PERL.eco (PERL) and Waltonchain (WTC).
The price of all these cryptocurrencies fell by around 50% after the news broke.
Binance said in a statement:
"When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users."
The OFAC added in August to its sanctions list the Tornado Cash website, with the help of which, according to the agency, attackers laundered more than $7B in cryptocurrencies.