The Tornado Cash price increased just under 5% on Monday after the news circulated on X according to which an American court of appeal had enlightened the end of a legal action against the Treasury Department.
The eleventh Circuit Court of Appeals ruled on July 3 that the trial, brought by the Crypto Coin Center interest group against the Treasury Department and various representatives of the government, could be rejected following the office of foreign assets, the end of sanctions against cryptographic sanctions and a separate legal decision blocking the OFAC of the supply of these sanctions.
Torn’s price exchanged $ 9.67, compared to $ 9.16 earlier in the day.
Last month, Coin Center and the Treasury Department filed a joint request asking the Court of Appeal to leave the District Court of Texas, the April decision that the way in which the OFAC condemned to the tornado was illegal and permanently the agency to assert the sanctions against it in the future.
OFAC has struck the tornado money on its list of sanctions in March of this year, after another court of appeal – the fifth circuit – judged that it could not sanction smart contracts. And in April, a judge of the district court also in the fifth circuit ruled that the OFAC could not sanction the tornado money again. After several extensions of the suspension period, this decision became legally binding on June 28. The government has agreed not to appeal the decision.
Coin Center Executive Director Peter Van Valkenburgh, celebrated the decision on X on Monday, writing: “This is the official end of our legal battle against the statutory authority behind the [Tornado Cash] Sanctions. The government was not interested in moving forward and defending their interpretation dangerously excessively from the laws on sanctions. »»
In their request in June, the parties explained that, even if they wanted the District Court’s decision to be canceled for various reasons – Coin Center because the appeal would become without object after the Judgment of the District Court of Texas became final and unfreeible in June, and the Government because “the OFAC Office of the modest designation MOOTE[ed] This call – they agreed that the best line of conduct would be that the eleventh short circuit cancels the decision and the dismissed court with instructions to be rejected.
Despite the withdrawal of the tornado money from the list of sanctions, the United States government continues to pursue accusations of criminal money laundering against the Torearry developers of Tornado Roman Storm and Roman Semenov. The Storm trial is expected to start on June 14 in New York.
