US Court Tosses Crypto Mixer Sanctions Tied to N. Korea Hack (1)

A federal appeals court ruled the US Treasury Department overstepped its authority by sanctioning cryptocurrency mixer Tornado Cash after a North Korea hacking group used the software to launder more than $455 million.

A three-judge panel of the 5th US Circuit Court of Appeals in New Orleans on Tuesday sided with six users of the crypto mixing service who argued the software Tornado Cash uses to conceal ownership of digital assets isn’t subject to sanction under US law, “as opposed to the rogue persons and entities who abuse it.”

Coinbase Global Inc., the biggest US cryptocurrency exchange, helped organize ...