Coinbase News: Chief Legal Officer Condemns US Treasury Over Tornado Cash Delisting

In a recent development in the cryptocurrency world, Coinbase’s Chief Legal Officer, Paul Grewal, has expressed strong condemnation towards the U.S. Treasury Department for disregarding a court ruling related to Tornado Cash. Here’s a detailed summary of the ongoing dispute and its implications.

Tornado Cash Delisting: Coinbase CLO Slams US Treasury

Paul Grewal, Chief Legal Officer of Coinbase, has condemned the U.S. Treasury Department for ignoring a Fifth Circuit ruling that ordered the removal of Tornado Cash from the sanctions list. The ruling stated that Tornado Cash’s Immutable smart contracts do not meet the criteria for property under U.S. sanctions laws. This dispute has reignited discussions on regulatory oversight and the evolving legal definitions of digital assets and smart contracts.

Coinbase Now Controls 11.42% of Staked ETH

Coinbase is now the largest individual node operator on the Ethereum network, controlling 11.42% of the total staked Ethereum. The platform has a 99.75% participation rate and uptime, ensuring staked assets continue generating rewards efficiently. Coinbase has also reported no instances of slashing or double signing, which means users’ funds have remained secure.