Court Ends Coin Center-US Treasury Appeal Over Tornado Cash
The US Court of Appeals for the Eleventh Circuit dismissed Coin Center's appeal against the US Treasury Department regarding 2022 sanctions on Tornado Cash. The court's decision concluded Coin Center's legal challenge after a joint filing with the Treasury. In 2022, the Treasury's Office of Foreign Assets Control (OFAC) sanctioned multiple wallet addresses linked to Tornado Cash. Coin Center claimed the Treasury exceeded its authority with these sanctions. Following the news, Tornado Cash's native token (TORN) initially surged over 14% before retracing. Coin Center's executive director stated this marked the end of their court battle. In January, a Texas District Court ordered the repeal of OFAC sanctions, which the Treasury later dropped, deeming the case moot. Tornado Cash co-founder Roman Storm faces a criminal trial for money laundering and related charges, while another co-founder, Alexey Pertsev, was sentenced to over five years in prison in the Netherlands.
