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Who will be the key stakeholders in the next major legal challenge against crypto privacy tools by end of 2025?
2
Resolution / Starting Odds
Coinbase • 25%
Binance • 25%
A government agency • 25%
A privacy advocacy group • 25%
Court filings or media reports
Story
Fifth Circuit Overturns OFAC Sanctions on Tornado Cash, Aiding Coinbase and Roman Storm
Nov 26, 2024, 11:44 PM
The U.S. Court of Appeals for the Fifth Circuit has ruled that the U.S. Department of the Treasury, specifically the Office of Foreign Assets Control (OFAC), overstepped its authority by sanctioning Tornado Cash's immutable smart contracts. The court found that these smart contracts, which enable privacy in cryptocurrency transactions, are not considered 'property' of a foreign national or entity, thus falling outside the scope of sanctions under the International Emergency Economic Powers Act (IEEPA). This decision marks a significant legal victory for the cryptocurrency industry, with Coinbase playing a key role in challenging the sanctions. The ruling also has implications for ongoing legal challenges, including the case involving Roman Storm, where the debate centers on whether the court can criminally charge developers for creating privacy software.
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Coinbase • 25%
ACLU • 25%
Electronic Frontier Foundation • 25%
Other • 25%
Google • 25%
Amazon • 25%
Apple • 25%
Other • 25%
Increased development • 25%
Decreased development • 25%
No significant change • 25%
Other impacts • 25%
Policies Upheld • 25%
Policies Overturned • 25%
Policies Modified • 25%
No Legal Challenges • 25%
Federal Government • 25%
State Government • 25%
Financial Institutions • 25%
Consumer Advocacy Groups • 25%
SEC • 25%
CFTC • 25%
State Regulators • 25%
Other • 25%
Yes • 50%
No • 50%
New regulations • 25%
Major arrest • 25%
Recovered funds • 25%
Other • 25%
Introduction of new regulations • 25%
Relaxation of existing regulations • 25%
Increased enforcement actions • 25%
No significant changes • 25%
Regulatory issues • 25%
Technological challenges • 25%
Market competition • 25%
Lack of public trust • 25%
Kraken • 25%
Bit Trade • 25%
Binance • 25%
Other • 25%
U.S. Congress • 25%
European Union • 25%
Industry consortium • 25%
Other • 25%