The Fifth Circuit Court of Appeals ruled against the US Treasury, stating that crypto mixer Tornado Cash's smart contracts cannot be classified as "property," marking a significant win for crypto.
Tornado Cash developer Alexey Pertsev has been convicted of laundering $1.2 billion through the crypto mixer and sentenced to 64 months in prison by a Dutch court.
Tornado Cash sees a $1.9B resurgence in 2024 despite sanctions.
