He canceled the bond which stood against us--the bond that consisted of ordinances--and which was directly hostile to us! He has taken it out of our way by nailing it to the cross!
By speaking of a 'new' Covenant, God at once renders the former Covenant obsolete; and whatever becomes obsolete and loses its force is virtually annulled.
And he 'himself carried our sins' in his own body to the cross, so that we might die to our sins, and live for righteousness. 'His bruising was your healing.'