Tornado Cash’s price rose just under 5% Monday after news circulated on X that an American appeal court had green -lit the end of a trial against the Treasury.
The eleven Circuit Court of Appeals gave up on July 3 that the trial brought by Crypto Interest Group Coin Center against the Treasury Department and various government officials could be rejected after the Office of Foreign Enable Control End of the Crypto and a Separate Legal Authority.
Torn’s Price acted at $ 9.67, up from $ 9.16 earlier in the day.
Last month, the Coin Center and Treasury Department filed a joint decision that asked the appeal to leave a Texas District Court’s decision that the way Ofac went to appoint Tornado cash, was illegal and to permanently impose the agency from enforcing sanctions against it in the future.
Ofac delisted Tornado cash from its sanction list in March this year, after another appeal – the fifth circuit – decided that it could not sanction smart contracts. And in April, a district judge also gave in the fifth circuit that ofac could not sanction Tornado cash again. After several extensions of the Abeyance period, this decision was legally binding on June 28. The government agreed not to appeal the decision.
Coin Center CEO Peter van Valkenburgh celebrated the decision on X Monday and wrote: “This is the official end of our legal struggle on the statutory authority behind [Tornado Cash] sanctions. The government was not interested in moving forward and defending their dangerously excessive interpretation of sanctions law. “
In their proposal for June, the parties explained that although they wanted the decision of the court law to vacate for various reasons – Coin Center because the appeal would become Moot after Texas District Court’s judgment became final and not appealing in June, and the government because “ofac’s cancellation of the term MOOT[ed] This appeal – they agreed that the best course of action would be for the eleventh Circuit Court to leave the court’s decision and custody with instructions on rejection.
Despite having removed the tornado contains from the sanction list, the US government continues to pursue charges of criminal money against Tornado Cash Developers Roman Storm and Roman Semenov. Storm’s trial is intended to begin on June 14 in New York.
