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Recent Developments in Crypto Regulation and Enforcement
As the year comes to a close, significant updates have emerged in the realm of cryptocurrency regulation and enforcement, shaping the global landscape for the industry.
The Court of Appeals for the Fifth Circuit has delivered a crucial judgment, ruling that the Treasury Department’s Office of Foreign Assets Control (OFAC) overstepped its authority by sanctioning Tornado Cash’s immutable smart contracts. These smart contracts do not qualify as ‘property’ of any foreign entity.
Meanwhile, the Federal Deposit Insurance Corporation (FDIC) faced scrutiny following a lawsuit revealing its communication with financial institutions to halt crypto-related activities pending regulatory review.
Source: Blockchain.News
