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Intro
This chapter explores a landmark court decision that invalidated U.S. Treasury sanctions against Tornado Cash smart contracts, setting crucial legal standards for the regulation of open source code. It examines the ruling's implications for the cryptocurrency sector and underscores the necessity of agencies adhering to congressional limits to prevent authority overreach.
Last week, the crypto world celebrated a major legal victory when a federal appeals court struck down OFAC’s sanctions on Tornado Cash’s immutable smart contracts in a Coinbase-funded lawsuit. While this decision is a significant win for crypto, its implications go far beyond the industry—it challenges the very limits of U.S. sanctions authority on open-source code.
In this episode, Coinbase’s Chief Legal Officer Paul Grewal and VP of Legal Leah Bressack discuss the case, the reasoning behind the court’s decision, and its broader implications, especially given that other cases are still in court. They address whether they think the government will appeal, how this ruling impacts other privacy tools and the other lawsuits, and why the case is a critical precedent for the intersection of code, law, and innovation.
Plus, what does this mean for Tornado Cash developer Roman Storm?
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
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