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Big win for crypto: US court rules Tornado Cash crossed the line By @nake13 The article discusses a landmark ruling by the U.S. Fifth Circuit Court of Appeals, stating that OFAC exceeded its authority by sanctioning Tornado Cash’s immutable smart contracts. The court ruled that these decentralized, self-executing codes do not qualify as “property” under legal definitions, marking a significant victory for the plaintiffs. This decision highlights the challenges of regulating emerging technologies like blockchain while ensuring technological neutrality. It emphasizes the need for updated legislation to address misuse, such as money laundering, without overextending administrative powers or stifling innovation. Read more

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The native token TORN has pumped by 420% following the news (peaking at +733%). A U.S. federal appeals court has made a landmark ruling, declaring that the sanctions imposed on Tornado Cash are unlawful. This decision means that Tornado Cash's smart contracts will be removed from the sanctions list, allowing U.S. citizens to use the service again. The court's ruling centered around the fact that Tornado Cash's open-source, immutable smart contracts cannot be owned by anyone and therefore do not qualify as "property" subject to sanctions. This distinction is crucial, as it highlights the unique nature of decentralized technologies like Tornado Cash. The implications of this ruling are significant, as it sets a precedent for how the U.S. government can regulate decentralized technologies. Paul Grewal, Coinbase's chief legal officer, hailed the decision as a "historic win for crypto". In response to the ruling, the price of Tornado Cash's token, TORN, surged over 500% to as high as $40. However, it's worth noting that Tornado Cash developer Roman Storm still faces trial in the U.S. Department of Justice's case against him.

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