{"id":3352,"date":"2024-11-27T06:32:53","date_gmt":"2024-11-27T06:32:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3352"},"modified":"2024-11-27T06:32:53","modified_gmt":"2024-11-27T06:32:53","slug":"historic-win-for-crypto-court-overturns-treasury-sanctions-on-tornado-cash-associated-token-skyrockets-430","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3352","title":{"rendered":"&#8216;Historic Win For Crypto:&#8217; Court Overturns Treasury Sanctions On Tornado Cash, Associated Token Skyrockets 430%"},"content":{"rendered":"<div>\n<p>In a big legal win for the cryptocurrency industry, a U.S. appeals court has overturned sanctions imposed by the Treasury Department on popular cryptocurrency mixer, <strong>Tornado Cash<\/strong>, causing the price of the associated coin to zoom 430%.<\/p>\n<p><strong>What Happened<\/strong>: A three-judge panel from the Fifth Circuit Appeals Court in New Orleans on Tuesday <a href=\"https:\/\/assets.bwbx.io\/documents\/users\/iqjWHBFdfxIU\/rWi4YTmtAT5I\/v0\">concluded <\/a>that\u00a0the Office of Foreign Assets\u00a0Control (OFAC) had exceeded its authority, reversing a lower court\u2019s decision and granting a partial summary judgment in favor of Tornado Cash users.<\/p>\n<p>The judges ruled that Tornado Cash\u2019s immutable smart contracts do not qualify as\u00a0property under the International Emergency\u00a0Economic Powers Act (IEEPA)\u2014a federal law that grants sweeping powers to the president to control economic transactions\u2014as they cannot be owned or controlled. <\/p>\n<p>\u201cWe hold that\u00a0Tornado Cash&#8217;s immutable smart contracts\u00a0(the lines of privacy-enabling software\u00a0code) are not the &#8220;property&#8221;\u00a0of a foreign national or\u00a0entity, meaning (1) they cannot\u00a0be blocked under IEEPA, and\u00a0(2) OFAC overstepped its congressionally\u00a0defined authority,\u201d Circuit Judge <strong>Don Willett<\/strong> wrote in the judgment.<\/p>\n<p>The Treasury Department didn\u2019t immediately return Benzinga\u2019s request for comment.<\/p>\n<p><strong>See Also:\u00a0<a href=\"https:\/\/www.benzinga.com\/24\/11\/42206614\/polygons-pol-token-outshines-bitcoin-ethereum-in-30-day-gains-top-analyst-anticipates-no-major-selling-pressure-in-days-ahead\">Crypto\u2019s Next Mega-Rocket? Analyst Forecasts Insane 2725%-6600% Surge For This Coin<\/a><\/strong><\/p>\n<p>The &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/42207257\/historic-win-for-crypto-court-overturns-treasury-sanctions-on-tornado-cash-associated-toke\" alt=\"'Historic\" win for crypto: court overturns treasury sanctions on tornado cash associated token skyrockets>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a big legal win for the cryptocurrency industry, a U.S. appeals court has overturned sanctions imposed by the Treasury Department on popular cryptocurrency mixer, Tornado Cash, causing the price of the associated coin to zoom 430%. What Happened: A three-judge panel from the Fifth Circuit Appeals Court in New Orleans on Tuesday concluded that\u00a0the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3352","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3352"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3352\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}