BlockBeats news, on November 28, this Tuesday, the court ruled that Tornado Cash's immutable smart contracts do not belong to property and cannot be sanctioned under current laws. Some observers claim this is a significant victory for privacy advocates.
10X Research stated in a report to investors on Wednesday: 'Although this ruling does not endorse money laundering, it sets a precedent that allows programmers to develop and deploy smart contract protocols without fear of 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 battlefield for DeFi, this decision has positive implications for the broader DeFi ecosystem and other protocols, particularly on the Ethereum network. It could have a huge impact.'
Former Coinbase CTO and prominent cryptocurrency entrepreneur Balaji Srinivasan stated on X on Wednesday: 'Privacy won. Smart contracts won. Tornado Cash won. And OFAC lost.'
