Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11) event
Overview
The Fifth Circuit Court of Appeals has reversed the Treasury Department's sanctions against Tornado Cash's immutable smart contracts in the case Van Loon v. Department of the Treasury. On 26 November 2024, a panel led by Judge Don Willett (No. 23-50669) ruled that OFAC overstepped its statutory mandate under the International Emergency Economic Powers Act. The decision stemmed from an appeal by six users of the crypto-mixing protocol, who contested a lower court's affirmation of the sanctions. They maintained that open-source, self-executing code cannot be classified as property belonging to a foreign national or entity, and thus falls outside IEEPA's reach. The appellate court agreed, stating that the immutable smart contracts do not constitute property subject to blocking. The opinion suggested that Congress retains the authority to amend IEEPA if it wishes to cover such technology.
Within The Counterparty graph, Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11) connects to 2 tracked entities, most strongly to Coinbase, Blockchain Association.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
mentions | Coinbase | 85% |
mentions | Blockchain Association | 85% |
Frequently asked questions
What is Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11)?
Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11) is an event tracked in The Counterparty knowledge graph. It is connected to 2 other tracked entities, most strongly to Coinbase, Blockchain Association.
What type of entity is Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11)?
Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11) is classified as an event (event) in The Counterparty knowledge graph.
What is Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11) connected to?
In The Counterparty knowledge graph, Van Loon v. Treasury - 5th Circuit overturns Tornado Cash sanctions (2024-11) is linked to 2 other tracked entities, most strongly to Coinbase, Blockchain Association.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.