It’s been revealed the fact that the Coinbase lawyer is now optimistic about the legal challenges of the US Tornado cash ban. Check out the latest reports about this below.
Coinbase’s top lawyer reveals news about US Tornado cash ban
According to the latest reports coming from Coinbase, the exchange’s top lawyer made sure to highlight the fact that “powerful” legal arguments are being made during an important moment in the lawsuit to overturn a US ban on Tornado Cash.
Paul Grewal, chief legal officer at top US exchange Coinbase, said recently that he is optimistic plaintiffs will prevail in the lawsuit against the U.S. Treasury Department to overturn the ban on using the crypto mixer.
Grewal revealed this issue as a reaction to a summary judgment filed Wednesday in U.S. District Court in Texas.
“A few months ago, Coinbase backed a legal challenge to sanctions imposed by the US government against Tornado Cash. Today the plaintiffs filed a motion for summary judgment, asking the court to reopen [Tornado Cash] for all. Their arguments are simple but powerful.”
Accoridng to the online publication the Daily Hodl, Coinbase is funding the lawsuit, which was initially filed in September 2022 after the U.S.
More than that, it’s also been reported the fact that the Treasury Department added the crypto mixer to the Specifically Designated Nationals and Blocked Persons (SDN) list, which means its use is prohibited.
Coinbase in the news
Coinbase notes in a new blog post that banks charge Americans an average remittance fee of 10.8%, money transfer operators charge an average of 6.2%, and post offices charge 5.5%.
“Americans spend over $12 billion a year in fees just to send money to friends and family abroad. These remittances are a vital lifeline for underbanked communities, enabling those who need it most to buy essential household goods, invest in healthcare, and fund education.”
