US Treasury Can Sanction Tornado Cash Again, files ‘Moot’ Notice

by

🤯 Treasury’s Crypto Capers! 🎭 Sanctions Shenanigans! 🤣

Right then, what ho! It appears the U.S. Treasury, not a chap generally known for his jollity, has, with a flourish, dropped the sanctions against Tornado Cash, a cryptocurrency mixing platform of some notoriety. One might even call it a popular spot for digital dust-ups, what?

But, instead of letting the legal eagles squawk and preen in the usual fashion, they’ve filed a “moot” notice last Friday in a Texas district court. One pictures a gaggle of fellows in wigs, utterly baffled, don’t you know.

In essence, old bean, this implies the sanctions have flown the coop, leaving the case rather like a punctured bicycle tire—utterly useless. If the court agrees, the whole shebang could be dismissed before a final ruling is ever made. Dash it all! 😠

This also implies that there won’t be a binding court decision stopping the Treasury from sanctioning Tornado Cash again or even going after other crypto-mixing tools in the future. One shudders to think of the possibilities! 😨

According to The Rage, a publication whose name rather suits the situation, this legal maneuver leaves the door wide open for the Treasury to do the whole rigmarole all over again. Honestly, the cheek of it! 🤨

The whole shebang started when some chaps, presumably with rather too much time on their hands, sued the Treasury, arguing it had overstepped its authority by sanctioning Tornado Cash in the first place. The first court, bless its cotton socks, ruled against them, saying the Treasury was perfectly within its rights. But in November, the appeals court, with a twist worthy of a detective novel, flipped the script, ruling that Tornado Cash shouldn’t fall under the International Emergency Economic Powers Act (IEEPA). That meant the sanctions were technically illegal. What a kerfuffle! 🙄

After that, in January, the appeals court sent the case back to the Texas district court with instructions to rule in favor of the plaintiffs. The district court was supposed to issue a final ruling saying the sanctions shouldn’t have happened. But now, with the moot notice, the Treasury is trying to make sure that ruling never happens. Talk about having your cake and eating it, eh? 🍰

Tornado Cash was first sanctioned in August 2022 because the Treasury claimed it was being used for money laundering, especially by North Korean hackers. The government said billions of dollars flowed through the platform, hiding stolen funds. A positively ripping yarn, wouldn’t you say? 😲

Read More

2025-03-27 22:45