Coinbase supports lawsuit against US Treasury’s ban on Tornado Cash, arguing that it violates First Amendment rights and constitutes government overreach, as the plaintiffs question the Treasury’s categorization and definition of Tornado Cash as well as the authority to impose sanctions, potentially setting a precedent for the regulation of privacy-enhancing tools in the cryptocurrency industry.
The filing claims that the Treasury does not possess the necessary jurisdiction to ban Tornado Cash and its associated transactions.
In a recent filing on May 24, 6 individuals presented four key arguments to overturn the United States Treasury’s decision to impose sanctions on our trending cryptocurrency mixer, Tornado Cash.
The plaintiffs argue that the case is not about granting special regulations to new technology but rather about Government overreach and a violation of 1st Amendment rights.
The arguments were summarized by Coinbase’s chief legal officer, Paul Grewal, in a Twitter thread, where he contended that the Government is trying to employ a property sanctions statute to ban open-source software, which contradicts the original intentions of the law.
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