Blockchain Association files support in suit to lift Tornado Cash sanctions
Cointelegraph
21 Nov 2023 12:41 AM
Crypto advocacy group the Blockchain Association again filed an amicus brief supporting a suit by six Tornado Cash users looking to overturn OFAC’s sanction of the crypto mixer....
- The Blockchain Association is supporting six plaintiffs in a lawsuit against the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash.
- The association argues that OFAC's decision to sanction Tornado Cash was unlawful, exceeded its authority, and was arbitrary and capricious.
- They believe that OFAC should focus on sanctioning bad actors instead of banning tools like Tornado Cash.
- The Blockchain Association suggests that OFAC should seek approval from Congress to ban crypto mixers.
- Tornado Cash is a decentralized tool with no owner or operator, according to the association.
- OFAC sanctioned Tornado Cash in August 2022, alleging that it was used for money laundering.
The sentiment of the article is negative towards OFAC's decision to sanction Tornado Cash and supports the arguments made by the Blockchain Association.
You May Ask
What is the Blockchain Association's stance on OFAC's sanctions on Tornado Cash?What authority does the Blockchain Association believe OFAC exceeded with its decision?How does the Blockchain Association suggest OFAC should handle crypto mixers like Tornado Cash?When did OFAC first sanction Tornado Cash and what was the reason behind it?What is the alleged amount of money laundered using Tornado Cash, according to OFAC?