{"id":45820,"date":"2025-01-22T14:28:56","date_gmt":"2025-01-22T14:28:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/torn-price-soars-170-after-court-overturned-tornado-cash-sanctions\/"},"modified":"2025-01-22T14:28:56","modified_gmt":"2025-01-22T14:28:56","slug":"torn-price-soars-170-after-court-overturned-tornado-cash-sanctions","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/torn-price-soars-170-after-court-overturned-tornado-cash-sanctions\/","title":{"rendered":"TORN price soars 170% after court overturned Tornado Cash sanctions"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645089271629-446d0a20-93ad-44f6-9c63-89cb4cf582a9-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645089271629-446d0a20-93ad-44f6-9c63-89cb4cf582a9-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645089271629-446d0a20-93ad-44f6-9c63-89cb4cf582a9-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645089271629-446d0a20-93ad-44f6-9c63-89cb4cf582a9-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Court overturns Tornado Cash sanctions.<\/li>\n<li>The court\u2019s decision limits OFAC\u2019s power on tech control.<\/li>\n<li>TORN price jumps 170% to $21.34 post-ruling.<\/li>\n<\/ul>\n<p>In a landmark decision that could reshape the regulatory landscape for cryptocurrency, the Texas court has overturned sanctions on Tornado Cash, leading to a dramatic 170% surge in the price of its native token, TORN, which now trades at $21.34.<\/p>\n<p>This <a href=\"https:\/\/x.com\/L0laL33tz\/status\/1881967586725818492\">ruling by the Fifth Circuit Court of Appeals<\/a> marks a significant victory for privacy in the crypto world, emphasizing the limitations of governmental oversight on technology.<\/p>\n<h2>The Tornado Cash controversy<\/h2>\n<p>The controversy began when the Office of Foreign Assets Control (OFAC) <a href=\"https:\/\/coinjournal.net\/news\/lawmaker-demands-answers-from-us-treasury-over-tornado-cash-sanctions\/\">placed Tornado Cash on its blacklist<\/a>, accusing the platform of facilitating money laundering for cybercriminals, including those linked to North Korea.<\/p>\n<p>The sanctions effectively barred US entities from interacting with Tornado Cash, targeting 38 Ethereum smart contract addresses associated with the service.<\/p>\n<p>However, the court has found that OFAC\u2019s actions exceeded its authority under the International Emergency Economic Powers Act (IEEPA), which restricts sanctions to \u201cproperty\u201d rather than technology itself.<\/p>\n<p>Judge Don Willett\u2019s opinion was clear: while there are legitimate concerns about unlawful activities, the sanctioning of the platform\u2019s technology was beyond OFAC\u2019s jurisdiction. He argued that the immutable nature of Tornado Cash\u2019s smart contracts meant they could not be considered \u201cproperty\u201d in the conventional sense, thus not subject to the sanctions imposed.<\/p>\n<h2>Implications of Tornado Cash\u2019s legal victory<\/h2>\n<p>This legal victory for Tornado Cash not only overturned the sanctions but also set a precedent regarding how privacy and software can be regulated. The court\u2019s decision to allow US citizens to use Tornado Cash again was met with a warm market response.<\/p>\n<p>The token TORN, which had been languishing under the weight of regulatory scrutiny, saw an unprecedented spike, reflecting investor optimism about the platform\u2019s future.<\/p>\n<p>The implications of this ruling extend beyond Tornado Cash. It sends a message about the balance between combating illicit activities and safeguarding technological innovation and privacy rights.<\/p>\n<p>Industry leaders, including Coinbase\u2019s Chief Legal Officer Paul Grewal, have celebrated the decision, suggesting a move towards more crypto-friendly regulations.<\/p>\n<p>This case underscores the ongoing debate over privacy in the digital age, particularly with technologies like blockchain that promise both security and anonymity. As the dust settles on this judicial decision, the crypto community watches closely, anticipating how this might influence future regulatory approaches to blockchain technologies and the broader implications for privacy rights in the United States.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/torn-price-soars-170-after-court-overturned-tornado-cash-sanctions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Court overturns Tornado Cash sanctions. The court\u2019s decision limits OFAC\u2019s power on tech control. TORN price jumps 170% to $21.34 post-ruling. In a landmark decision that could reshape the regulatory landscape for cryptocurrency, the Texas court has overturned sanctions on Tornado [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":45821,"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":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45820"}],"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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=45820"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/45821"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=45820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=45820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=45820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}