Coinbase is fighting back as the SEC closes in on Tornado Cash - News Summed Up

Coinbase is fighting back as the SEC closes in on Tornado Cash


The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. Tornado Cash was sanctioned by the Office of Foreign Assets Control (OFAC) back in August. But the Tornado Cash sanctions set an alarming benchmark for anyone involved in digital assets. Mixers such as Tornado Cash further protect the privacy of its users by mixing users’ deposits and withdrawals in liquidity pools, hiding their addresses and safeguarding their identities. Now their assets are trapped in Tornado Cash.


Source: Wall Street Journal September 17, 2022 22:31 UTC



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