- Tornado cash victory over OFAC is an important step for web development and DEFI in the United States and worldwide.
- The use of cryptographic mixers by bad players remains an existential threat to the wider cryptography market.
District judge of the United States for the western District of Texas, Robert Pitman, ruled in favor of Tornado Cash, a popular cryptographic mixer, against the Office of Foreign Assets Control (OFAC). According to court documents dated April 28, OFAC is now legally prohibited from restoring initial sanctions.
In August 2022, the OFAC added tornado money to the list of nationals and specially designated people (NTC). According to the OFAC, Tornado Cash allowed the bad actors, led by Lazare supported by North Korea, to whiten the. $ 7 billion in cryptographic active ingredients.
However, some users of Tornado Cash, led by Joseph Van Loon, presented solid arguments according to which the Ministry of the Treasury had exceeded its authority. On the upper list, the complainants argued that tornado trees is not a person and that immutable intelligent contracts are not goods.
In addition to quoting the constitutional violations of freedom of expression and financial life, tornado trees can exist transparently in the United States.
Greater image of the final decision of the species tornado
The last blow to the Treasury Ministry by the Tornado Cash is a huge victory for web developers in the United States and around the world. The decision was welcomed by web leaders led by Paul Grewal, the legal director of Coinbase, among others.
In addition, the open source development of web protocols will take shape under the Donald Trump administration, in particular in the legal clarity of the planned cryptography.
Meanwhile, Torn Price won around 1% following the announcement to exchange approximately $ 7.38 when writing the present. Altcoin with small capitalization, with an entirely diluted assessment of approximately $ 74 million and an average negotiation volume of 24 hours of approximately 2.6 million dollars, had gathered more than 160% in the past year.
