TORN Spikes 5% After U.S. Appeals Court Okays End of Another Tornado Cash Lawsuit
Main Idea
The Eleventh Circuit Court of Appeals ruled to dismiss Coin Center's lawsuit against the Treasury Department, leading to a 5% price increase for Tornado Cash's TORN token.
Key Points
1. The Eleventh Circuit Court of Appeals ruled on July 3, 2025, that Coin Center could dismiss its lawsuit against the Treasury Department.
2. TORN's price rose nearly 5% following the court's decision, trading at $9.67 from $9.16 earlier in the day.
3. Coin Center and the Treasury Department filed a joint motion, making the decision legally binding on June 28, with the government agreeing not to appeal.
4. Coin Center’s Executive Director Peter Van Valkenburgh celebrated the decision on X, calling it a victory regarding Tornado Cash sanctions.
5. Despite the ruling, the U.S. government had previously removed Tornado Cash from the sanctions list.
Description
Tornado Cash's price rose just under 5% Monday after news circulated on X that a U.S. appeals court had green-lit the end of a lawsuit against the Treasury Department. The Eleventh Circuit Court of Appeals ruled on July 3 that the lawsuit, brought by crypto interest group Coin Center against the Treasury Department and various government officials, could be dismissed following the Office of Foreign Assets Control's ending of sanctions against the crypto mixer and a separate court ruling blocking...
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