Coinbase’s Law Director Paul Grewal said the US Department of Treasury did not comply with the measures to take in accordance with the court decision on Tornado Cash. The Treasury adopts a different approach through certain elements, not fully complying with the court’s judgment.
Court and Tornado Decision
The Fifth Chamber Court of Appeal, the Ministry of Treasury’s decision to keep the Tornado Cash on the Special Sanction List determined that it was unlawful. The court said that Tornado Cash’s smart contracts are not deleted as a “property” within the scope of the International Emergency Economic Authorities. This statement points to the need to reconsider the criteria to be applied during the sanction process.
Implementation Strategy of the Ministry of Treasury
Although the Ministry of Treasury did not fully implement the court decision, it plans to return the situation to the relevant units to re -examine the issue. The Ministry suggested that the fully fulfillment of the decision on the grounds of national security concerns may cause problems. The strategy described was interpreted that the existing application will be evaluated within the legal limits.
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Paul Grewal said the Ministry of Treasury was incomplete in terms of compliance with the decision.
Paul Grewal: “The Treasury increased our concerns because it did not fully comply with the court decision.”
Grewal, the Ministry’s efforts to make partial arrangements, the basis of the debate is incompatible with the legal process, he added.
The court stressed that the unchanged smart contracts did not fall into the category of property within the framework of the legal definition. This situation narrowed the scope of the products to be used in sanction applications and created uncertainty about the legal criteria to be applied. The current approach of the Ministry of Treasury brings to the agenda again.
Coinbase and other plaintiffs, arguing that the Ministry of Treasury should comply with the decision, said the legal process will continue. The relevant parties demand the rule of law in the decisions to be taken and the compliance with the decision should be meticulously supervised.
The incident reintegrated the discussions on the necessity of regulatory institutions within the framework of national security and legal responsibility. In the relevant processes, the way the decisions are implemented is expected to shed light on future legal regulations.
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