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US Appeals Court Rules Treasury Overstepped in Sanctioning Tornado Cash Smart Contracts đ
In a significant legal #victory , the U.S. Fifth Circuit Court of Appeals ruled that the Treasuryâs Office of Foreign Assets Control (OFAC) exceeded its authority by sanctioning Tornado Cashâs immutable smart contracts. The court determined that such contracts, being immutable and unowned, do not qualify as âpropertyâ under the International Emergency Economic Powers Act (#IEEPA ).
This decision overturns a lower court ruling and mandates the removal of these contracts from the sanctions list, restoring access to Tornado Cash for U.S. users.
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In a significant legal #victory , the U.S. Fifth Circuit Court of Appeals ruled that the Treasuryâs Office of Foreign Assets Control (OFAC) exceeded its authority by sanctioning Tornado Cashâs immutable smart contracts. The court determined that such contracts, being immutable and unowned, do not qualify as âpropertyâ under the International Emergency Economic Powers Act (#IEEPA ).
This decision overturns a lower court ruling and mandates the removal of these contracts from the sanctions list, restoring access to Tornado Cash for U.S. users.
If you enjoy my content, feel free to tip me â¤ď¸
#Binance
#crypto2024