Fifth Circuit Rules OFAC Overstepped in Sanctioning Tornado Cash's Immutable Smart Contracts

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Decrypt 14h ago

Fifth Circuit Rules OFAC Overstepped in Sanctioning Tornado Cash's Immutable Smart Contracts - Decrypt

Quick Summary:

The decision reverses a lower court ruling and marks a significant win for privacy advocates and blockchain developers seeking legal clarity.

Treasury sanctioned Tornado Cash in August 2022 for allegedly facilitating over $7 billion in illicit transactions, including funds tied to North Korea's Lazarus Group.

The decision reverses a lower court ruling and marks a significant win for privacy advocates and blockchain developers seeking clarity to build similar products, according to industry stalwarts.