Loading...
Market
Next major legal challenge leader against U.S. Treasury crypto sanctions by end of 2025?
2
Resolution / Starting Odds
Coinbase • 25%
ACLU • 25%
Electronic Frontier Foundation • 25%
Other • 25%
Public court records or announcements from involved organizations
Story
Fifth Circuit Rules Treasury Exceeded Authority; Tornado Cash Smart Contracts Not 'Property'
Nov 26, 2024, 11:33 PM
The U.S. Court of Appeals for the Fifth Circuit has ruled that the Department of the Treasury exceeded its authority when it sanctioned Tornado Cash's immutable smart contracts. The court determined that these smart contracts are not 'property' under the International Emergency Economic Powers Act (IEEPA) because they are not capable of being owned, and therefore cannot be subject to sanctions. Coinbase helped lead the challenge against the Treasury's actions, and this decision is seen as a significant victory for the cryptocurrency industry, privacy advocates, and developers of decentralized protocols. As the court stated, 'Because these immutable smart contracts are not 'property', OFAC overstepped its congressionally defined authority.'
View original story
Similar markets
Yes • 50%
No • 50%
Coinbase • 25%
Binance • 25%
A government agency • 25%
A privacy advocacy group • 25%
Binance • 25%
Coinbase • 25%
Kraken • 25%
Other exchange • 25%
Bitcoin • 25%
Ethereum • 25%
Ripple (XRP) • 25%
Other • 25%
Coinbase • 25%
Ripple • 25%
Binance • 25%
Other • 25%
Yes • 50%
No • 50%
Policies Upheld • 25%
Policies Overturned • 25%
Policies Modified • 25%
No Legal Challenges • 25%
Targeting new hacking group • 25%
Focusing on crypto exchanges • 25%
New regulatory measures • 25%
Other legal actions • 25%
Tax incentives for crypto • 25%
Regulatory framework • 25%
Federal crypto reserve • 25%
Other • 25%
