Breaking: Tornado Cash Users Slapped US Treasury With a Lawsuit

May 25, 2023

MCP News Free

Breaking: Tornado Cash Users Slapped US Treasury With a Lawsuit

Key Points

Coinbase is reportedly funding the case against the Treasury Department
Plaintiffs claim that the US Treasury lacks jurisdiction to deprive Americans of using Tornado Cash

A group of users of the crypto-mixing tool Tornado Cash has moved to sue the US Treasury Department for banning Tornado Cash in the country.

According to the filing, the designation of Tornado Cash exceeds the Treasury Department’s “statutory authority,” hence, the ban should be reversed.

The plaintiffs comprise six individuals and alleged in their filing that the Department has deprived law-abiding Americans of using Tornado Cash, which is necessary to carry out anonymous lawful crypto transactions.

“This case is not about carving out special rules for new technology. It is about holding the United States Department of the Treasury to the basic requirements of the International Emergency Economic Powers Act (IEEPA) and the Free Speech Clause of the First Amendment to the United States Constitution,” the filing noted.

Furthermore, the plaintiffs slammed the Department for wrongly assuming that everyone who owns TORN is a member of the legally recognized entity called “Tornado Cash”.

The government is attempting to prohibit the use of open-source software using a property sanctions statute, meanwhile, the statute is about anything that may be owned, but the mixing tool, however, can not be owned, and controlled by any individual or entity, not even the owner of Tornado Cash who is a TORN holder.

According to reports, Coinbase is funding the lawsuit against the Treasury Department, the plaintiffs are Joseph Van Loon, Tyler Almeida, Alexander Fisher, Preston Van Loon, Kevin Vitale, and Nate Welch.

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