Just In: US Court Rules Tornado Cash Smart Contracts Not Property, Lifts Ban ⚖️
A recent ruling by a U.S. appeals court concluded that the Treasury Department’s Office of Foreign Assets Control (OFAC) had overstepped its bounds by imposing sanctions on Tornado Cash's immutable smart contracts.
This decision nullifies previous OFAC actions and effectively permits U.S. citizens to resume utilizing the Tornado Cash protocol without legal repercussions.
The court's finding was guided by the perspective that the smart contracts should not be regarded as property, hence lifting the previous restrictions.
This ruling may set a precedent for how immutable blockchain-based contracts are viewed under U.S. jurisdictions and might influence future regulatory approaches to decentralized finance technologies.
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