{"id":42227,"date":"2024-11-27T14:33:13","date_gmt":"2024-11-27T14:33:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/zcash-rallies-30-as-privacy-tokens-gain-momentum-after-court-ruling-on-tornado-cash-sanctions\/"},"modified":"2024-11-27T14:33:13","modified_gmt":"2024-11-27T14:33:13","slug":"zcash-rallies-30-as-privacy-tokens-gain-momentum-after-court-ruling-on-tornado-cash-sanctions","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/zcash-rallies-30-as-privacy-tokens-gain-momentum-after-court-ruling-on-tornado-cash-sanctions\/","title":{"rendered":"Zcash rallies 30% as privacy tokens gain momentum after court ruling on Tornado Cash sanctions"},"content":{"rendered":"<p><b>(Originally posted on : Invezz )<\/b><br \/>\n<\/p>\n<div><\/div>\n<p>Privacy-focused digital coins recorded double-digit surges as the latest court ruling exempts immutable smart contracts from the US Treasury sanctions.<\/p>\n<div class=\"wp-block-kevinbatdorf-xeet-wp xeet-wp\">\n<div class=\"react-tweet-theme Prh5YO6Z7gkcGwVjnX1Q\">\n<article class=\"y3vyxk0KOdMgcSTtzERK\">\n<div class=\"lXRMjX2KYR7IZSOZPFbm\"><a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\" class=\"nkzum3vS9EE0UMk6wIwD\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"gxuhzv6slGlIBy5JFjVm WcDJEE_clZMJavnkfXYk\"><img src=\"https:\/\/pbs.twimg.com\/profile_images\/1641221212578754562\/DfiC0KW2_normal.png\" alt=\"Watcher.Guru\" width=\"48\" height=\"48\" loading=\"lazy\"><\/div>\n<div class=\"gxuhzv6slGlIBy5JFjVm\">\n<div class=\"jM__a2FZ4FtvadsBSIC5\"><\/div>\n<\/div>\n<p><\/a><\/p>\n<div class=\"BwMePHrH3rvsmYE498nW\"><a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\" class=\"oDvOSSsrnTspryAL9YVt\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"YqFZOCD996i_gAbVzqfJ\"><span title=\"Watcher.Guru\">Watcher.Guru<\/span><\/div>\n<div class=\"k4aQ6nZmsk6GjbvjPKss\"><\/div>\n<p><\/a><\/p>\n<div class=\"T65hgE51dyqUMzAY5hl0\"><a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\" class=\"jg4rjgPtL89uoWZw81FG\" target=\"_blank\" rel=\"noopener noreferrer\"><span title=\"@WatcherGuru\">@WatcherGuru<\/span><\/a><\/p>\n<div class=\"IulIEDncuBnezCKlPUfn\"><span class=\"f9i0GrOk4HWCqDStzGHE\">\u00b7<\/span><a href=\"https:\/\/twitter.com\/intent\/follow?screen_name=WatcherGuru\" class=\"X9KF8bvQvjpxMkEUAQSg\" target=\"_blank\" rel=\"noopener noreferrer\">Follow<\/a><\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\" class=\"VAKgDYwbCPjVtzvR7vsi\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"View on Twitter\"><\/a><\/div>\n<p class=\"AdGEHCYjGQTkPV_D5imj\"><span>JUST IN: \ud83c\uddfa\ud83c\uddf8 US court rules sanctions placed against Tornado Cash crypto mixer were unlawful.<\/span><\/p>\n<div class=\"_0kiDv1j1JHI8CF0Ntb_\"><a class=\"PF6M5QdjvCYeUIeL82Pw\" href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"2:34 AM \u00b7 Nov 27, 2024\">2:34 AM \u00b7 Nov 27, 2024<\/a><a class=\"EUWNvie68q0hB7x9gYil\" href=\"https:\/\/help.twitter.com\/en\/twitter-for-websites-ads-info-and-privacy\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Twitter for Websites, Ads Information and Privacy\"><\/a><\/div>\n<div class=\"r1nP5SJS7VNmWTX19Auq\"><a class=\"gcUKEvUouWctDVs4Uni5\" href=\"https:\/\/twitter.com\/intent\/like?tweet_id=1861554263719031248\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Like. This Tweet has 2.3K likes\"><\/p>\n<div class=\"EYp9rp32FVnHEztzLqMG\"><\/div>\n<p><span class=\"aMeAuAqW2H34ePc2jorL\">2.3K<\/span><\/a><a class=\"We700JQVK913TW5TZQk6\" href=\"https:\/\/twitter.com\/intent\/tweet?in_reply_to=1861554263719031248\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Reply to this Tweet on Twitter\"><\/p>\n<div class=\"SXNJIS9giXWKxuUsSwXx\"><\/div>\n<p><span class=\"qAurmX5F17a0m0GbrhOq\">Reply<\/span><\/a><button type=\"button\" class=\"EDcxfgdhQDFSaBs5yAxC\" aria-label=\"Copy link\" data-xeet-url-to-copy=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\"><\/p>\n<div class=\"O1W4EuB8WU92_ex7pGQT\"><\/div>\n<p><span class=\"ovn4FbJMqbXsfiK7gvth\" data-copy-text=\"{&quot;copied&quot;:&quot;Copied!&quot;,&quot;copyAllText&quot;:&quot;Copy link to Tweet&quot;}\">Copy link<\/span><\/button><\/div>\n<div class=\"cjgWV81BwLW_tK8FicCg\"><a class=\"tczCx_QJsiI5O2NPUrfI\" href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1861554263719031248\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"LW1dI56xN0L7kAXJota7\">Read 217 replies<\/span><\/a><\/div>\n<\/article>\n<\/div>\n<\/div>\n<p>While the crypto market reflects indecisiveness as Bitcoin wavers above $93K, up 1.75% over the past day, privacy tokens saw significant gains.<\/p>\n<p>Tornado Cash\u2019s native token, TORN, gained over 700% following the verdict. Though the altcoin retraced to $17.50 at press time, it stays 400% up on its daily chart.<\/p>\n<p>Meanwhile, Zcash stole the show among the top privacy tokens. ZEC capitalized on the optimism to climb from $44.16 to $58.03 24-hour peak \u2013 a 31.41% uptick.<\/p>\n<p>Other privacy tokens that recorded impressive moves in the past day include 0x0 (+66%), zKML (+45%), and CLOAK (+50%).<\/p>\n<h2 class=\"wp-block-heading\">Tornado Cash and legal challenges<\/h2>\n<p>Tornado Cash is a decentralized, non-custodial, open-source crypto tumbler running on EVM-compatible blockchains. It allows individuals to mix tainted crypto funds to conceal their source.<\/p>\n<p>Meanwhile, <a target=\"_blank\" href=\"https:\/\/www.state.gov\/imposing-sanctions-on-virtual-currency-mixer-tornado-cash\/\" rel=\"noopener\">the United States Department of the Treasury sanctioned the protocol in August 2022<\/a>, making it unlawful for companies and residents to use the mixer.<\/p>\n<p>The Treasury alleged fraudsters, including North Korea\u2019s Lazarus Group, used Tornado Cash to conduct over $7 billion in illegal transactions.<\/p>\n<p>Nonetheless, the court has dealt the department\u2019s sanctions authority a blow with the latest landmark decision.<\/p>\n<p>The ruling highlighted that Tornado\u2019s immutable smart contracts (autonomous code lines that execute with zero human intervention) aren\u2019t property, making them immune to the IEEPA (International Emergency Economic Powers) Act.<\/p>\n<p>The court added that it\u2019s impossible to control or own immutable smart contracts, exempting them from property-tied sanctions.<\/p>\n<p>The ruling attracted the attention of industry leaders, with many calling it a milestone for the cryptocurrency sector. <\/p>\n<p>For instance, Coin Center\u2019s director of research, Van Valkenburgh, showed optimism on the court\u2019s decision.<\/p>\n<div class=\"wp-block-kevinbatdorf-xeet-wp xeet-wp\">\n<div class=\"react-tweet-theme Prh5YO6Z7gkcGwVjnX1Q\">\n<article class=\"y3vyxk0KOdMgcSTtzERK\">\n<div class=\"lXRMjX2KYR7IZSOZPFbm\"><a href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" class=\"nkzum3vS9EE0UMk6wIwD\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"gxuhzv6slGlIBy5JFjVm\"><img src=\"https:\/\/pbs.twimg.com\/profile_images\/1602012347115229184\/MDDqkP-t_normal.jpg\" alt=\"Peter Van Valkenburgh\" width=\"48\" height=\"48\" loading=\"lazy\"><\/div>\n<div class=\"gxuhzv6slGlIBy5JFjVm\">\n<div class=\"jM__a2FZ4FtvadsBSIC5\"><\/div>\n<\/div>\n<p><\/a><\/p>\n<div class=\"BwMePHrH3rvsmYE498nW\"><a href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" class=\"oDvOSSsrnTspryAL9YVt\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"YqFZOCD996i_gAbVzqfJ\"><span title=\"Peter Van Valkenburgh\">Peter Van Valkenburgh<\/span><\/div>\n<div class=\"k4aQ6nZmsk6GjbvjPKss FgA7vJPvpWgsyInO1FMI\"><\/div>\n<p><\/a><\/p>\n<div class=\"T65hgE51dyqUMzAY5hl0\"><a href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" class=\"jg4rjgPtL89uoWZw81FG\" target=\"_blank\" rel=\"noopener noreferrer\"><span title=\"@valkenburgh\">@valkenburgh<\/span><\/a><\/p>\n<div class=\"IulIEDncuBnezCKlPUfn\"><span class=\"f9i0GrOk4HWCqDStzGHE\">\u00b7<\/span><a href=\"https:\/\/twitter.com\/intent\/follow?screen_name=valkenburgh\" class=\"X9KF8bvQvjpxMkEUAQSg\" target=\"_blank\" rel=\"noopener noreferrer\">Follow<\/a><\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" class=\"VAKgDYwbCPjVtzvR7vsi\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"View on Twitter\"><\/a><\/div>\n<p class=\"AdGEHCYjGQTkPV_D5imj\"><span>I&#8217;m loving reading through this opinion. Smart contracts are not contracts (nor are they smart) and that makes all the difference. An immutable smart contract is not property of any kind and therefore can&#8217;t be sanctioned.<\/span><\/p>\n<div class=\"cacqfhueggAloScon8Ff vbELv9queVpQp7_WI5IK\">\n<div class=\"lA2IAt33tV3Va0ux5nae\"><a href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" class=\"cMOXrU0jLUAJlX48teJs qKjwtPPLFbJmZprUT2qh\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"qnLhJK8xTTrk0D3Cnl3W\" style=\"padding-bottom:63.35825968728756%\"><\/div>\n<p><img src=\"https:\/\/pbs.twimg.com\/media\/GdWcQWVWkAAlNUn?format=jpg&amp;name=small\" alt=\"Image\" class=\"_pM7v0lMKodnLxq5lHUq\" loading=\"lazy\"><\/a><\/div>\n<\/div>\n<div class=\"_0kiDv1j1JHI8CF0Ntb_\"><a class=\"PF6M5QdjvCYeUIeL82Pw\" href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"3:20 AM \u00b7 Nov 27, 2024\">3:20 AM \u00b7 Nov 27, 2024<\/a><a class=\"EUWNvie68q0hB7x9gYil\" href=\"https:\/\/help.twitter.com\/en\/twitter-for-websites-ads-info-and-privacy\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Twitter for Websites, Ads Information and Privacy\"><\/a><\/div>\n<div class=\"r1nP5SJS7VNmWTX19Auq\"><a class=\"gcUKEvUouWctDVs4Uni5\" href=\"https:\/\/twitter.com\/intent\/like?tweet_id=1861565828270846048\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Like. This Tweet has 177 likes\"><\/p>\n<div class=\"EYp9rp32FVnHEztzLqMG\"><\/div>\n<p><span class=\"aMeAuAqW2H34ePc2jorL\">177<\/span><\/a><a class=\"We700JQVK913TW5TZQk6\" href=\"https:\/\/twitter.com\/intent\/tweet?in_reply_to=1861565828270846048\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Reply to this Tweet on Twitter\"><\/p>\n<div class=\"SXNJIS9giXWKxuUsSwXx\"><\/div>\n<p><span class=\"qAurmX5F17a0m0GbrhOq\">Reply<\/span><\/a><button type=\"button\" class=\"EDcxfgdhQDFSaBs5yAxC\" aria-label=\"Copy link\" data-xeet-url-to-copy=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\"><\/p>\n<div class=\"O1W4EuB8WU92_ex7pGQT\"><\/div>\n<p><span class=\"ovn4FbJMqbXsfiK7gvth\" data-copy-text=\"{&quot;copied&quot;:&quot;Copied!&quot;,&quot;copyAllText&quot;:&quot;Copy link to Tweet&quot;}\">Copy link<\/span><\/button><\/div>\n<div class=\"cjgWV81BwLW_tK8FicCg\"><a class=\"tczCx_QJsiI5O2NPUrfI\" href=\"https:\/\/twitter.com\/valkenburgh\/status\/1861565828270846048\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"LW1dI56xN0L7kAXJota7\">Read 4 replies<\/span><\/a><\/div>\n<\/article>\n<\/div>\n<\/div>\n<p>Further, Coinbase\u2019s Paul Grewal <a target=\"_blank\" href=\"https:\/\/x.com\/iampaulgrewal\/status\/1861549058797772874\" rel=\"noopener\">commented<\/a> that the verdict is a historic victory for digital assets and anyone who prioritizes liberty.<\/p>\n<h2 class=\"wp-block-heading\">ZEC price outlook<\/h2>\n<p>The coin trades at $56.19 after a slight dip from its 24-hour peak. <\/p>\n<figure class=\"wp-block-image inv-component-break-container size-full\"><img width=\"717\" height=\"305\" src=\"https:\/\/ik.imagekit.io\/invezz\/uploads\/2024\/11\/image-176.png\" alt=\"\" class=\"wp-image-2302369\" loading=\"lazy\" \/><figcaption class=\"wp-element-caption\">Source &#8211; <a target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/zcash\/\" rel=\"noopener\">Coinmarketcap<\/a><\/figcaption><\/figure>\n<p>ZEC remains 27% up on the daily timeframe, and the 75% surge in daily trading volume reflects notable trader activity and potential upside continuation.<\/p>\n<h2 class=\"wp-block-heading\">Technical indicators support the bullish case. <\/h2>\n<p>The daily Moving Average Convergence Divergence line made a notable bullish divergence with the signal line, highlighting robust upward momentum.<\/p>\n<p>The massive green histogram bars support this narrative. <\/p>\n<p>Also, the Chaikin Money Flow points upward, signaling fresh cash flowing into the Zcash ecosystem.<\/p>\n<p>ZEC looks ready to extend its current surges, but broad market sentiments would be crucial in shaping its trajectory in the upcoming sessions.<\/p>\n<p>In summary, the prevailing rallies in privacy tokens reflect the close ties between cryptocurrencies and regulatory developments.<\/p>\n<p>The post <a href=\"https:\/\/invezz.com\/news\/2024\/11\/27\/zcash-rallies-30-as-privacy-tokens-gain-momentum-after-court-ruling-on-tornado-cash-sanctions\/\">Zcash rallies 30% as privacy tokens gain momentum after court ruling on Tornado Cash sanctions<\/a> appeared first on <a href=\"https:\/\/invezz.com\/\">Invezz<\/a><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/invezz.com\/news\/2024\/11\/27\/zcash-rallies-30-as-privacy-tokens-gain-momentum-after-court-ruling-on-tornado-cash-sanctions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Invezz ) Privacy-focused digital coins recorded double-digit surges as the latest court ruling exempts immutable smart contracts from the US Treasury sanctions. Watcher.Guru @WatcherGuru \u00b7Follow JUST IN: \ud83c\uddfa\ud83c\uddf8 US court rules sanctions placed against Tornado Cash crypto mixer were unlawful. 2:34 AM \u00b7 Nov 27, 2024 2.3K Reply Copy link Read [&hellip;]<\/p>\n","protected":false},"author":3947362363,"featured_media":42228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/42227"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362363"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=42227"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/42227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/42228"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=42227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=42227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=42227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}