Cryptocurrency policy advocacy group Coin Center, from United States, expressed its intentions to pursue administrative relief for individuals affected by cryptocurrency mixer Tornado Cash sanctions, which have been initiated by the Treasury Department’s Office of Foreign Asset Control (OFAC), as stated by Cointelegraph.
According to Cointelegraph, through a blog post, Jerry Brito, executive director, Coin Center, and Peter Van Valkenburgh, director of research, Coin Center, alleged that OFAC went beyond its legal authority, when it named Tornado Cash and 44 associated wallet addresses in its specially designated nationals’ list. Claims from directors were on the grounds that Treasury’s actions could have potentially hampered US residents’ constitutional rights, as they intended to bring the matter to court.
On the basis of data from Cointelegraph, Brito and Valkenburgh said that Coin Center will first engage with OFAC to discuss the matter, in addition to addressing Congress members. The advocacy group will then aim to help individuals with funds trapped on any of the 44 USD Coin (USDC) and Ether (ETH) addresses related to Tornado Cash through applying for a license to withdraw their tokens. Brito and Valkenburgh claimed that OFAC’s sanctions against cryptocurrency mixer Blender.io is untimely and under the control of certain individuals.
Moreover, Cointelegraph’s information mentioned that after the announcement was made on the sanctions against Tornado Cash, individuals related with the cryptocurrency mixer were cut off from some centralised platforms. Roman Semenov, co-founder, Tornado Cash, stated that developer platform GitHub suspended his account. In June, Coin Center pressed charges against the US Treasury at federal court, on the grounds that the government body provisioned an unconstitutional amendment in the infrastructure bill, which was signed into law by Joe Biden, president, United States of America. The group declared that the law’s provision aimed at gathering information about individuals and their cryptocurrency transactions.
(With insights from Cointelegraph)