Coinbase News: U.S. Treasury Delists Tornado Cash from Sanctions List

In a significant turn of events, the U.S. Treasury Department has delisted the cryptocurrency mixing platform Tornado Cash from its sanctions list, ending a legal battle that sparked controversy in the crypto world.

U.S. Treasury Delists Tornado Cash from Sanctions List, No Final Ruling Needed

The U.S. Treasury Department has argued that no further court ruling is necessary in the legal battle over its sanctioning of crypto mixer Tornado Cash. The platform and associated addresses were removed from the sanctions list in March 2022 after being blacklisted in August for alleged use by North Korea’s Lazarus Group to launder stolen cryptocurrency. Six Tornado Cash users, including Ethereum developer Preston Van Loon and supported by Coinbase, had sued the department claiming the sanctions were unlawful.

Coinbase’s Paul Grewal Criticizes US Treasury’s Decision on Tornado Cash Lawsuit

Paul Grewal, Coinbase’s Chief Legal Officer, has condemned the U.S. Department of the Treasury’s decision to dismiss the Tornado Cash lawsuit without a final ruling. A court ruling had challenged the Treasury’s authority to sanction Immutable smart contracts, raising concerns over financial privacy and crypto-mixing regulations. Despite the Treasury delisting Tornado Cash, Grewal demands a final court judgment in the case.