The Legit Ledger Episode 10: Government Overreach on Blockchain Tech? The Tornado Cash Lawsuit with Christopher Bosch and Zack Golda

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On this episode of The Legit Ledger, Sheppard Mullin attorneys Chris Bosch and Zack Golda be part of host Yasamin Parsafar to debate the Twister Money lawsuit, which claims the OFAC exceeded its authority by prohibiting U.S. residents from interacting with the crypto mixer.

What We Talk about in This Episode:

1. Are you able to present a high-level clarification of what Twister Money is?
2. What does it imply for an entity to be on the OFAC’s SDN Record?
3. Why did OFAC add Twister Money to the SDN checklist?
4. Are you conscious of every other occasion the place a know-how was added to the SDN checklist?
5. Who’re the plaintiffs on this case? What claims are they bringing generally?
6. It seems OFAC printed new FAQs particularly in response to the Twister Money lawsuit. What are you able to inform us about these FAQs?
7. Are you able to clarify how know-how like Twister Money might be protected underneath the First Modification?
8. The OFAC place seems to be that it is regulating conduct, not speech. How would that argument affect the First Modification challenge?
9. Are there any First Modification implications related to dusting transactions?

About Yasamin Parsafar

Yasamin Parsafar is a companion with the Mental Property Follow Group in Sheppard Mullin’s San Francisco workplace, the place she serves as co-leader of the agency’s Blockchain & Fintech staff. Her follow focuses on defending her purchasers’ mental property rights by means of counseling, prosecution, enforcement, and litigation. Yasamin leverages her litigation expertise to strengthen and shield her purchasers’ mental property, handle dangers, and place companies to achieve the occasion of a dispute. She continuously advises and protects manufacturers venturing into web3 on numerous points associated to non-fungible tokens, metaverses, video games, on-line marketplaces, and different platforms.

About Christopher Bosch

As an affiliate within the Governmental Follow Group in Sheppard Mullin’s New York workplace, Christopher Bosch primarily focuses on Securities regulation, compliance, and litigation, in addition to inside investigations and white collar protection. He continuously represents banks, broker-dealers, funding advisers, boards of administrators, company officers, monetary advisors and different securities professionals in reference to inside investigations and inquiries by the U.S. Lawyer’s Workplaces for the Southern District of New York and Northern District of California, the SEC, the CFTC, FINRA, the IRS, the FRB, the NY Division of Monetary Providers.

Christopher advises monetary establishments on compliance with knowledge privateness and cybersecurity authorized mandates, and represented a blockchain investor in reference to shareholder by-product and sophistication actions alleging securities legislation violations. He additionally advises companies concerning digital token issuances and regulatory compliance, and repeatedly publishes on regulatory developments within the cybersecurity, blockchain and cryptocurrency areas.

About Zack Golda

Zack Golda is an affiliate in Sheppard Mullin’s Enterprise Trial Follow Group within the Orange County, California workplace, the place he primarily focuses on normal enterprise litigation, together with regulatory challenges, breach of contract, enterprise torts, blockchain, sports activities and different high-stakes enterprise litigation issues. As a member of the agency’s Blockchain Business Group, Zack has litigated instances involving blockchain, privateness, and regulatory points. He has additionally drafted a number of articles about regulatory advances within the cryptocurrency area, overlaying subjects resembling decentralized autonomous organizations (DAOs), and SEC and CFTC regulation of the blockchain trade.

Zack is also a member of the California Regulatory Follow Group, the place he advises purchasers on speaking with regulators, analyzing and responding to company proposed rulemakings and, the place obligatory, litigating constitutional, statutory, and procedural challenges to newly handed laws.