The Blockchain Association has joined the legal battle against the U.S. Treasury’s Office of Foreign Assets Control (OFAC) by submitting an amicus brief in support of the six plaintiffs challenging the sanctions imposed on cryptocurrency mixer Tornado Cash. In their brief, the advocacy organization argues that OFAC’s decision is unconstitutional, exceeds its legislative power, and is arbitrary and capricious. The Blockchain Association believes that OFAC should focus on penalizing offenders rather than banning technologies like cryptocurrency mixers.
The Blockchain Association has added its voice to the ongoing legal fight against OFAC’s sanctions on Tornado Cash, a cryptocurrency mixer. The organization has submitted an amicus curiae brief to a U.S. appeal court, supporting the group of Tornado Cash users who are challenging the lower court verdict that upheld the sanctions. The Blockchain Association argues that OFAC’s actions are unconstitutional and goes beyond its legislative authority.
- The Blockchain Association contends that OFAC’s decision to sanction Tornado Cash is both arbitrary and capricious, violating the U.S. Constitution.
- Tornado Cash is an autonomous organization that operates without human intervention or supervision, according to the Blockchain Association’s long-held belief.
- OFAC should focus on punishing offenders rather than banning technologies like cryptocurrency mixers, according to the Blockchain Association’s brief.
- OFAC initially sanctioned Tornado Cash in August 2022, citing its use in laundering over $7 billion worth of cryptocurrency, including funds linked to North Korea.
The Blockchain Association has submitted an amicus brief challenging OFAC’s sanctions on Tornado Cash. The organization argues that OFAC’s actions are unconstitutional, exceed its legislative power, and are arbitrary and capricious. The Blockchain Association believes that instead of banning technologies like cryptocurrency mixers, OFAC should focus on penalizing offenders. This legal battle highlights the ongoing debate surrounding the regulation of cryptocurrencies and the role of government agencies in this emerging industry.
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