United States Court of Appeals for the Fifth Circuit ruled that OFAC overstepped in sanctioning immutable smart contracts like Tornado Cash

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U.S. appeals court ruled that the U.S. Treasury’s Office of Foreign Asset Control (OFAC) exceeded its statutory authority in sanctioning Tornado Cash.

The U.S. Treasury’s about-face came months after the United States Court of Appeals for the Fifth Circuit found the agency had overstepped its authority in sanctioning Tornado Cash. The court found that immutable smart contracts, which can’t be altered or controlled, shouldn’t be classified as property, as the sanctions against Tornado Cash implied.