Crypto urges Congress to change DOJ rule used against Tornado Cash devs
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A coalition of 34 crypto companies, including Kraken and Coinbase, has urged Congress to challenge the Department of Justice's expansive interpretation of money transmission laws. The group argues that the DOJ's current stance could criminalize blockchain developers and threatens US-based software development in the digital asset industry, particularly in light of recent charges against Tornado Cash and Samourai Wallet developers.
March 27, 2025 | 4:30 am
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Coinbase is part of a coalition challenging DOJ's interpretation of money transmission laws, which could impact the company's operational environment and developer ecosystem.
The DOJ's interpretation could create significant legal uncertainty for Coinbase, potentially restricting its development activities and increasing compliance risks.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
NEGATIVE IMPACT
Kraken is a signatory to the letter urging Congress to address the DOJ's broad interpretation of money transmission laws, which could impact crypto development.
The legal uncertainty could create operational challenges for Kraken and potentially slow down its technological innovation and development efforts.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70