According to ChainCatcher, on Tuesday, the court ruled that immutable smart contracts do not constitute property and cannot be sanctioned under current law, leading some observers to claim this is a significant victory for privacy advocates.
10X Research stated in a report to investors on Wednesday: "Although this ruling does not recognize money laundering, it sets a precedent allowing programmers to develop and publish smart contract protocols without charging fees and without worrying about sanctions." This move also allows developers to better understand what they can build without falling under regulatory scrutiny, especially on Ethereum, "Since Ethereum remains the main hub for DeFi, this decision has positive implications for the broader DeFi ecosystem and other protocols (especially on the Ethereum network). This could have a huge impact."
Former Coinbase CTO and renowned cryptocurrency entrepreneur Balaji Srinivasan stated on X on Wednesday: "Privacy has won. Smart contracts have won. Tornado Cash has won. And OFAC has lost."
