The U.S. Fifth Circuit Court of Appeals has ruled that the Office of Foreign Assets Control (OFAC) overstepped its authority by placing Tornado Cash on its Specially Designated Nationals and Blocked Persons (SDN) List. This decision overturns the prior sanctions imposed by OFAC.
According to the court, OFAC's actions went beyond its legal powers, impacting the operations and reputation of Tornado Cash unjustly. This ruling might set a precedent for similar cases where financial services or platforms face sanctions.
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