Can the U.S. government sanction computer code?
That simple yet complex question is at the heart of a burgeoning legal fight backed by one of the world’s largest cryptocurrency exchanges. The answer will likely have major implications for the government’s power to control the functions of digital assets.
“The power that’s delegated to OFAC simply authorizes them to target persons or property,” Paul Grewal, Coinbase’s chief legal officer, told The Block. “The smart contracts that they’re talking about,” that enable Tornado Cash, “these are neither persons nor property.”
‘Enforcement 40’ for 2020
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