Coin Center lawyers argue Tornado Cash is not property
The Coin Center lawsuit, first filed in 2022, noted that one plaintiff used Tornado Cash to protect his identity while donating money. Go to Source
Coin Center
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Crypto staking Jarretts again sue IRS over block reward taxes
A previous case brought by Josh and Jessica Jarrett was dismissed in 2022 after the IRS conceded to refund some of the tax paid. Go to Source
Coin Center Warns of DOJ Overreach in Tornado Cash, Samourai Wallet Cases
The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ … Read more
New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment
A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized … Read more
Coin Center and Blockchain Association slam ‘unworkable’ US Senate DeFi bill
Coin Center said the bill was unconstitutional, while the Blockchain Association called it incompatible with blockchain technology. Go to Source Powered by WPeMatico
Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates
Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the “Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)” Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a … Read more
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury. Go to Source Powered by WPeMatico
Coin Center Sues US Treasury Over Tornado Cash Ban — Lawsuit Says Government’s Action ‘Was Unlawful’
The non-profit that focuses on policy issues facing cryptocurrencies, Coin Center, has filed a lawsuit against the Treasury department, the secretary of the Treasury Janet Yellen, and the Office of Foreign Assets Control’s (OFAC) director Andrea Gacki. Coin Center’s court filing says that the government’s sanctioning of Tornado Cash exceeds the Treasury’s statutory authority. The … Read more
Coin Center files lawsuit against US Treasury over Tornado Cash sanctions
The advocacy group alleged OFAC “exceeded their statutory authority” in sanctioning Tornado Cash because the mixer was a “privacy tool beyond the control of anyone.” Go to Source Powered by WPeMatico
500,000 DAI From DAO Maker Exploit Was Sent Through Tornado Cash, Security Analysts Report
On September 8, the crypto security and smart contract auditing firm Certik revealed that 500,000 DAI was sent through the Tornado Cash mixing platform after the funds were stolen in August 2021. The digital assets originally stemmed from the DAO Maker breach that saw the loss of more than $7 million in ERC20 tokens and … Read more
