Why is Coinbase filing a lawsuit against the Treasury Department?

(Michael Nagle/Bloomberg) Coinbase, the largest U.S.-based cryptocurrency exchange, is bankrolling a lawsuit against the Treasury Department challenging its decision to sanction a program that allowed North Korean hackers and other illicit actors to launder billions of dollars’ worth of digital tokens.

Did Treasury Department overstep tornado cash?

Register Now A group of crypto investors and developers lost a lawsuit funded by Coinbase that sought to argue the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service designed to make crypto transactions anonymous.

When did Coinbase go public?

Coinbase signage dominated Times Square on April 14, 2021, when the company's stock went public. (Michael Nagle/Bloomberg)