FOX Business reporter Eleanor Terrett stated on X that the cryptocurrency industry achieved two significant legal victories in the past few days: 1. Today, the Fifth Circuit Court of Appeals ruled on Tornado Cash, stating that the U.S. Treasury's action of adding open-source protocols to the list of sanctioned entities was illegal. This ruling sets a precedent that open-source technology cannot be banned simply because it is used by bad actors — a blow to Senator Elizabeth Warren's anti-money laundering bill as well. 2. A district judge overturned the SEC's proposed expansion of the broker-dealer rules, which would have included decentralized protocols and automated market makers in the agency's definition of 'dealer', subjecting them to regulatory scrutiny. The judge ruled that the SEC was attempting to cast a net so broadly that it exceeded its congressional authority.

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