The Fifth Circuit Court of Appeals, in November 2024, ruled that OFAC exceeded its statutory authority by sanctioning smart contracts, holding that they are not “property” under the law

Event date

November 27, 2024

Quotes that support claims

In November 2024, the Fifth Circuit Court of Appeals ruled that OFAC had exceeded its authority under the International Emergency Economic Powers Act

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.

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Week 48 of 2024