Coinbase News: Crypto Firms Call for Congress to Challenge DOJ’s Case Against Tornado Cash Developers

In a significant development in the cryptocurrency world, a coalition of 34 crypto firms and advocacy groups has urged Congress to intervene in the US Department of Justice’s (DOJ) case against Tornado Cash developers. The group, led by the DeFi Education Fund and including major players like Coinbase and Kraken, warned in a letter that the DOJ’s stance could have far-reaching consequences for the entire cryptocurrency industry.

Crypto Firms Urge Congress to Challenge DOJ’s Case Against Tornado Cash Developers

A coalition of 34 crypto firms and advocacy groups, led by the DeFi Education Fund and including major players like Coinbase and Kraken, has urged Congress to push back against the US Department of Justice’s (DOJ) legal interpretation in its case against Tornado Cash developers. The group warned in a March 26 letter to key committees in both the House and Senate that the DOJ’s stance could criminalize nearly all blockchain software developers. The letter was sent to committees including the Senate Banking Committee and House Financial Services Committee.

Wyoming to Launch State-Backed Stablecoin WYST in July 2025

Wyoming is set to introduce the first fiat-backed, fully reserved stablecoin issued by a U.S. public entity, the Wyoming Stable Token (WYST). Currently undergoing testing across multiple blockchain networks including Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Coinbase’s Base testnets, WYST is planned for launch in July 2025. Wyoming Governor Mark Gordon has announced that the state’s proposed stablecoin might be ready for launch by then. The Wyoming Stable Token Commission has partnered with LayerZero, a blockchain interoperability firm, to facilitate cross-chain deployment.