US Treasury Faces Criticism Over Tornado Cash Sanctions Delisting
- The US has lifted sanctions against crypto mixer Tornado Cash.
- Coinbase CLO Paul Grewal criticized the US Treasury’s handling of the delisting process.
- Grewal argues that the Treasury’s filing contradicts established legal processes.
- The smart contract of Tornado Cash was ruled as non-erasable and not property under IEEPA.
- Tornado Cash is accused of laundering nearly $500 million in stolen digital assets by the Lazarus Group.
The US Treasury removed sanctions on Tornado Cash, but Coinbase CLO Paul Grewal criticized the lack of a final judgment, arguing it could lead to future re-sanctioning. The court ruled that Tornado Cash’s smart contract is non-erasable and not considered property under IEEPA.
Source (2.6)https://coingape.com/coinbase-clo-criticizes-the-us-treasury-over-tornado-cash-sdn-delisting-procedure/?rand=24432
