4 hours Tornado Cash Sanctions Overturned by U.S. Appeals Court; TORN Soars Over 500%CoinDesk

A U.S. federal appeals court has delivered a major legal victory to the crypto sector by throwing out the U.S. Treasury Department’s earlier effort to directly sanction crypto mixing service Tornado Cash.

The court found that the government didn’t have the proper tools to include the actual technology underpinning the service as a sanctioned entity.

Tornado Cash’s native token, TORN, rocketed up by over 500% in the hours following the ruling.

Tech · U.S.