Crypto Coinbase has challenged the decision of the United States Treasury Department to include Tornado Cash, a decentralized software project, on the list of Specially Designated Nationals and Blocked Persons (SDN). This action, which was brought up in the Western District of Texas, marks a serious clash between the rapidly expanding cryptocurrency industry and the federal regulatory authorities.
Tornado Cash is a platform that runs on the Ethereum blockchain that offers immutable smart contracts that permit anonymous cryptocurrency transactions. This protects the users of Tornado Cash from having their privacy compromised. This piece of software has emerged as a central issue in the ongoing discussion on the appropriate level of government oversight of the digital space.
According to the allegations made in the complaint filed by Coinbase, the action taken by the Treasury Department to penalize Tornado Cash goes beyond the scope…
