Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,457)
  • Analysis (1,640)
  • Bitcoin (2,228)
  • Blockchain (1,318)
  • DeFi (1,541)
  • Ethereum (1,509)
  • Event (56)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,584)
  • Press Releases (2)
  • Reddit (878)
  • Regulation (1,480)
  • Security (2,108)
  • Thought Leadership (3)
  • Videos (41)
Hand picked
  • ChainLink Ace is online while Link approaches the breakdown zone from $ 14 to $ 16
  • Cardano (ADA) laterally – intact support, but no spark for a movement
  • NFT sales fell from $ 1.6 billion to T1 2025 to $ 1.3 billion in T2 2025
  • How a crypto portfolio gives total control of digital assets
  • 5 emerging cryptocurrencies influencing blockchain trends
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»Bitcoin»Tornado Cash Triumph: You Can’t Sanction Smart Contracts, Court Says, TORN Gathers 1,300%
Bitcoin

Tornado Cash Triumph: You Can’t Sanction Smart Contracts, Court Says, TORN Gathers 1,300%

November 27, 2024No Comments4 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Torn99btc.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


Tornado Cash is back in the spotlight and the price of TORN increased by 1,300% after yesterday's court ruling that smart contracts cannot be sanctioned.

Just when Bitcoin, Solana, meme coins and top altcoins are flying, a US court has declared that Tornado Cash smart contracts, contrary to authorities’ claims, cannot be sanctioned.

This is a huge boost for Tornado Cash, a crypto mixer that saw its token, TORN, flash crash and usage decline to record levels following the August 2022 sanctions.

Now, in a boost for the mixer and another endorsement of crypto innovation, the Fifth Circuit Court of Appeals ruled yesterday that the Treasury Department’s sanctions against the smart contracts driving Tornado Cash were illegal.

This decision is a victory for this booming industry. This should be crucial, especially for privacy purists and anyone clamoring for innovation.

The arguments against Tornado Cash: are TORN smart contracts SAFUs?

To understand why, we have to go back to the last bull cycle of 2021. Then, as cryptocurrency prices reached new highs, Tornado Cash emerged as a tool to hide transactions on Ethereum.

Simply put, the tool allowed users to “unlink” their public crypto movements by providing a layer of anonymity.

Given the open nature of crypto transactions, this was necessary.

Unfortunately, Tornado Cash, a tool built and improved by the community, attracted nefarious agents, mostly hackers and scammers, who wanted to launder the stolen money.

Some of these reportedly include hackers acting on behalf of North Korea. The Treasury Department claimed that Tornado Cash enabled the laundering of hundreds of millions of stolen funds, some from the Ronin Hack, which caused users to lose more than $600 million.

In August Release 2022The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash addresses under the International Emergency Economic Powers Act (IEEPA), highlighting its role in facilitating illegal activity transactions .

The directive meant that US citizens could not interact with Tornado Cash.

However, as expected, there was an immediate reaction. Coinbase, one of the largest exchanges in the world, filed a lawsuit challenging the accusations. They said OFAC and the Treasury Department were overstepping their authority.

Coinbase and other blockchain proponents argue that Tornado Cash was an open protocol and that OFAC sanctioned self-executing standalone contracts that did not belong to anyone but belonged to the underlying network, in this case Ethereum, a public ledger.

EXPLORE: Elon Musk’s Meme Hedgehog SHRUB Coin Pumps +30%: Is This the Best HODL Animal Coin?

The Court’s Landmark Decision: What Does It Mean for Privacy Coins?

In yesterday’s ruling, which overturned the district court’s decision, the presiding judge decisively ruled that Tornado Cash’s smart contracts were not property and “could not be possessed” since they are autonomous.

Second, the court said OFAC was overstepping its mandate by sanctioning open source and immutable technology. The court said the agency should instead target individuals and entities that misuse the protocol for malicious purposes.

The decision recognizes that if the government decided to ban mixers like Tornado Cash, it would stifle innovation since it would amount to penalizing encryption.

Encryption and cryptography are essential to digital security and power all open source ledgers, including Bitcoin and Ethereum.

TORN prices rise 1,300% – but can the surge be sustained?

Following this well-deserved triumph, TORN .cwp-coin-chart svg path { Stroke: ; line width: ; }





tornado-cash icon












tornado-cash icon




Price









Trading volume in 24 hours





Last price movement over 7 days


prices soared 1,300% to nearly $40 before calming down.

(TORNUSDT)

If Tornado Cash attracts activity like before August 2022, TORN prices could rebound, even surpassing $436, printed in early 2021.

EXPLORE: Dogwifhat Pumps 10% on Robinhood Listing, But New Meme$PEPU Coin Presale Steals the Show as It Surpasses $50 Million

Join the 99Bitcoins News Discord here for the latest market updates

The article Tornado Cash Triumph: You Can’t Sanction Smart Contracts, Court Rules, TORN 1,300% Rallies appeared first on .



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleUK crypto regulatory regime to be implemented in 2026
Next Article Preparing for the era of quantum computing

Related Posts

Bitcoin

Giant Spanish coffee OKs $ 1.17 billion Bitcoin strategy

July 1, 2025
Bitcoin

Robinhood announces a new layer 2 blockchain 2

June 30, 2025
Bitcoin

3 key events this week that could move the prices of bitcoin and cryptography

June 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Philippine Blockchain Week 2025 Welcomes Global Web3 Trailblazers to Manila

June 9, 2025

Manila, Philippines – June 9, 2025 — As Philippine Blockchain Week (PBW) 2025 returns for…

Event

ETHMilan 2025 Returns With a Stellar Line-Up at One of Milan’s Most Iconic Venues

June 5, 2025

Milan, Italy – Mark your calendars! ETHMilan, Italy’s largest international Ethereum and Web3 conference, is…

1 2 3 … 49 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

ChainLink Ace is online while Link approaches the breakdown zone from $ 14 to $ 16

July 1, 2025

TonCoin: Can an increase of 42% in whale entries propel ton $ 3.28?

July 1, 2025

Solana Rival following herself for major outperformance after correction, according to the CEO of Real Vision, Raoul Pal

June 30, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 106,970.66
ethereum
Ethereum (ETH) $ 2,465.50
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.22
bnb
BNB (BNB) $ 653.07
solana
Solana (SOL) $ 152.70
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.279489
dogecoin
Dogecoin (DOGE) $ 0.163244
staked-ether
Lido Staked Ether (STETH) $ 2,464.08