Court Ruling Challenges OFAC Sanctions on Tornado Cash, What’s Next?

🚀 Stay Ahead with AltcoinDaily.co! 🌐 The crypto industry is abuzz following the U.S. Court of Appeals for the Fifth Circuit’s decision on November 26, which determined that the Treasury’s Office of Foreign Assets Control (OFAC) exceeded its authority in sanctioning certain Tornado Cash smart contracts. These immutable contracts, targeted in 2022 for their alleged…

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Federal Court Rules Tornado Cash Smart Contracts Are Not Sanctionable Property

November 28, 2024 at 06:48 PM GST updated: November 28, 2024 at 09:33 AM 2 mins read News A federal court rules that Tornado Cash’s smart contracts can’t be sanctioned, highlighting the limits of current laws on blockchain tech. The court emphasizes that Tornado Cash’s immutable smart contracts aren’t property or services, challenging OFAC’s authority….

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