In the United States, Tornado Cash, an Ethereum-based crypto mixer, has publicly received support from Coinbase Chief Legal Officer Paul Grewal.
This happened amid an ongoing legal battle surrounding money laundering allegations. Grewal emphasized the importance of protecting individual rights and privacy within the crypto sector.
Appreciation of efforts in Tornado Cash case
During a series of rulings on the social media platform He argued that the U.S. Treasury Department is required to prove that it acted within an approved association of people with a common purpose. Grewal also criticized the ministry for abandoning their original theory in exchange for a new one, which he said still contains the flaws of the old theory.
Coinbase’s Chief Legal Officer raised specific concerns about how current laws interpret open source software code, emphasizing that it cannot be classified as real estate. This raises questions about the limited supervisory powers of the ministry in this area. According to Grewal, any attempt to regulate the use of open source software like Tornado Cash in the US would require congressional approval.
Privacy remains a central theme
Roman Storm, co-founder of Tornado Cash, has denied involvement in laundering more than a billion dollars and violating sanctions. He was released on bail in August last year.
The issue of privacy remains a central theme within the crypto community. Ensuring the confidentiality of transactions promotes financial autonomy and strengthens community trust. The emphasis on privacy is seen as essential not only for protecting individual rights, but also for maintaining the integrity and resilience of the entire Blockchain ecosystem.
Source: https://newsbit.nl/coinbase-juridisch-hoofd-verdedigt-tornado-cash-in-amerikaanse-rechtszaak/
