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Coinbase Legal Director Supports Tornado Cash, Seeks to Protect Privacy Rights

Coinbase Legal Director Supports Tornado Cash, Seeks to Protect Privacy Rights

CointimeCointime2024/04/16 09:28
By:Cointime

Coinbase's legal chief, Paul Grewal, published a series of articles on the X platform. Grewal admitted that the plaintiff in the "Tornado Cash" case had made a strong response to the argument made by the US Treasury Department in the Fifth Circuit Court of Appeals. According to the submitted documents, the Treasury Department needs to "prove that it has approved an association composed of people with a common purpose".Regarding the sanction proposal put forward by the Treasury Department, Grewal expressed concern about the interpretation of existing regulations, especially when it comes to open source software code. He emphasized that such code is not property, which poses a challenge to the Treasury Department's regulatory power limited to "property" involving foreign interests.Grewal believes that any attempt by the Treasury Department to regulate the use of open source software such as Tornado Cash by US citizens must be authorized by Congress. He mentioned the Treasury Department's recent call to Congress to address what it sees as regulatory loopholes related to such software.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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