Grewal Criticizes Treasury on Tornado Sanctions

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Tornado Cash Case

CoinGape

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Business

Business & Economics

Coinbase CLO Slams US Treasury for Defying Court Ruling In Tornado Cash Case

Summary

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68% Informative

Fifth Circuit Court of Appeals recently ruled that the action by the U.S. Treasury Department was unlawful as it put Tornado Cash on the Specially Designated Nationals (SDN) list.

Tornado Cash’s smart contract was non-erasable, so it did not constitute “property” under the International Emergency Economic Powers Act (IEEPA) Tornado Cash's immutable smart contracts aren’t property’ under IEEPA , invalidating sanctions.

Despite court decision, US Treasury seeks partial delisting of Tornado Cash , ignoring the full ruling on smart contract sanctions.

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formal

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English

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