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A coalition of over 30 crypto firms and advocates has urged Congress to address what they describe as the Department of Justice's (DOJ) misinterpretation of money transmission laws. This call to action follows the DOJ's enforcement actions against developers, particularly those associated with Tornado Cash, a crypto mixer that was previously sanctioned. The coalition argues that the DOJ's approach contradicts guidance from FinCEN, Congress, and the courts, potentially stifling American innovation in the crypto sector. The firms are advocating for legislative clarity to protect U.S. developers and maintain the country's position as a leader in technology.
An interesting asymmetry in Tornado Cash sanctions. Users fled in droves after Tornado was sanctioned in 2022, but last week's reversal isn't bringing them back to the mixing platform. https://t.co/VcbhcpAibQ
Interesting lack of symmetry with regards to the Tornado Cash sanctions. Users fled Tornado in droves after it was sanctioned in 2022, but last week's reversal isn't bringing them back to the mixing platform. https://t.co/i9gqeVGm2Z
NEW IN TORNADO CASH: Last week the Government filed a notice that attempts to prevent a Texas court from ruling on the unlawfulness of placing sanctions on Tornado Cash. While Treasury removed the software from its sanctions list, it is now actively trying to stop the issuing https://t.co/nrAFvzKRDa https://t.co/oXpy4u5ICA
