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Category: CRYPTO NEWS
The post Coinbase CLO Hails Court Decision Vacating OFAC’s Sanctions Against Tornado Cash appeared on BitcoinEthereumNews.com. A US court has vacated its decision against Tornado Cash, prohibiting the Office of Foreign Assets Control (OFAC) from reinstating previous sanctions on the crypto mixer. Coinbase CLO Paul Grewal hailed the ruling while taking swipes at the Treasury Department over the botched handling of the delisting procedure. Coinbase CLO Ecstatic Over Court Ruling In Favor Of Tornado Cash The legal drama between the US Department of the Treasury and Tornado Cash has taken another turn following a new court ruling. According to an X post by Coinbase Chief Legal Officer (CLO) Paul Grewal, the US District Court for the Western District of Texas has vacated its previous judgment that sided with the Treasury Department. Under the new ruling, the federal court reversed its judgment, noting that OFAC’s decision to impose sanctions against Tornado Cash violated the Administrative Procedure Act. This time, the court is siding with Tornado Cash, with the ruling having far-reaching implications for parties. The Coinbase CLO notes that the decision bars OFAC from reissuing original sanctions on Tornado Cash. However, the agency can still impose fresh sanctions in the future, but it has to comply fully with the APA. “OFAC is now legally prohibited from reinstating the original sanction,” said Grewal. “Congratulations to the brave plaintiffs who had the courage to stand up to their own government for their rights under law.” OFAC imposed sanctions on Tornado Cash after finding ties between the crypto mixer and the North Korean hacking syndicate Lazarus. Despite his support of Tornado Cash, the Coinbase CLO is pushing for improved blockchain transparency in the fight against crime. Court Trashes US Treasury Over Its Delisting Process After a series of legal drawbacks, the US Treasury applied to the court to moot its final decision on the matter. At the time, the US…
2025-04-29T03:42:08+00:00