Cryptocurrency firms including Coinbase Global Inc. and advocacy groups likely face a long journey—and long odds—to win their lawsuits aiming to remove crypto mixer Tornado Cash from the U.S. Treasury Department’s sanctions list, where it landed due to money-laundering allegations.
Efforts to be removed from the Treasury’s sanctions list can be costly and time-consuming, and they often fail, sanctions lawyers said. While crypto advocates and companies contend that Tornado Cash’s sanctions infringe on personal rights to privacy—an important issue for the nascent industry—crypto experts said Tornado Cash might not be the best test case for that argument.
‘Enforcement 40’ for 2020
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