In a recent amicus brief filed with DeFi Education Fund, the Blockchain Association strongly criticized the U.S. Treasury Department’s sanctioning of Tornado Cash which is an Open-source software enabling transaction anonymity on the Ethereum blockchain, deeming it “unprecedented and Unlawful.”
In response to the Treasury Department’s sanctions imposed on Tornado Cash, various crypto advocates, including the non-profit organization Coin Center, voiced their opposition. Coin Center went as far as filing a lawsuit against the Treasury Department challenging the imposed sanctions.
This week, the Blockchain Association, a prominent crypto advocacy group based in Washington, D.C., submitted a legal brief in solidarity with Coin Center’s case. Joining forces with them was DeFi Education Fund, a nonpartisan research and advocacy organization, adding their support to the cause.
In a statement, Kristin Smith, CEO of the Blockchain Associate, emphasized the importance of acknowledging Tornado Cash as a tool. She expressed that pending the tool itself, solely based on its potential misuse by bad actors, goes against the core value on which this country was built.
Smith underlined the unwavering support of the Blockchain Association for Coin Center, emphasizing their shared commitment to promoting the responsible and lawful utilization of blockchain technology. “Regulatory actions should only be targeted at bad actors who abuse this tool for illegal purposes.”
Coinbase, a prominent cryptocurrency exchange, is lending support to a separate legal case challenging the sanctions imposed by the department. In a similar vein, the Blockchain Association has filed an amicus brief in that case as well. Both lawsuits contend that the government exceeded its jurisdiction by targeting software instead of focusing on individuals or entities, among other key concerns.