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Tornado Cash Scores ‘Stunning Victory’ For Crypto Against US Treasury Department Bitcoinist 27 lis 2024

Tornado Cash Scores ‘Stunning Victory’ For Crypto Against US Treasury Department ⚖️

OFAC crypto mixer Tornado Cash US Department of the Treasury Fifth Circuit Court of Appeals

On November 26, the Fifth Circuit Court of Appeals ruled that the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) exceeded its authority by sanctioning Tornado Cash’s immutable smart contracts. These autonomous smart contracts, operating without human intervention, cannot be classified as "property," impacting regulatory approaches.

The court’s decision marks a crucial moment for the cryptocurrency industry in its ongoing battle against overreaching government sanctions. By ruling in favor of Tornado Cash, the verdict sets a precedent for how autonomous crypto technologies are treated legally, potentially shaping future regulatory actions concerning decentralized finance.

This ruling could influence similar cases and impact future policies regarding the classification of smart contracts and other cryptographic technologies. It reflects a growing tension between innovative crypto technologies and existing legal frameworks, emphasizing the need for updated regulations that accommodate the unique characteristics of decentralized systems.

Źródło: bitcoinist.com ↗

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