I don't think people understand how big of a ruling this is.
The court is saying that immutable smart contracts are not subject to sanctions since they're not owned by anyone.
The US legal system is finally acknowledging that decentralized protocols are a new type of infrastructure in the world.
Massive W
holy shit
immutable smart contracts just beat the treasury department in court
"we hold that Tornado Cash's immutable smart contracts (the lines of privacy-enabling software code) are not the "property" of a foreign national or entity, meaning (1) they cannot be blocked under IEEPA, and (2) OFAC overstepped its congressionally defined authority"
incredible the degree to which crypto is killing it in federal courts
Privacy wins. Today the Fifth Circuit held that @USTreasury’s sanctions against Tornado Cash smart contracts are unlawful. This is a historic win for crypto and all who cares about defending liberty. @coinbase is proud to have helped lead this important challenge. 1/6
One neat difference between ChatGPT and previous iterations is its willingness to acknowledge uncertainty or absurdity (e.g. these are less of an issue now https://t.co/fQPxJhWVzH)
A funny quirk is it may be _too_ confident in its uncertainty, as in its take on Alice here.
So…Twitter received requests from public figures & political actors on both sides of the aisle to remove speech they felt was false or inflammatory, reviewed the material in question and deleted it if necessary? That’s the scandal? That’s called content moderation.
Tether is the 60 billion pound elephant in the room of this crypto crash.
It still can get much worse. Don't forget Alameda Research was the biggest user of Tether.