BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Trump Administration Could Reshape Treasury’s Stance on Tornado Cash

by Dan K
Nov 28, 2024 - 6:24 pm
in Blockchain
A gavel symbolizing legal proceedings over blockchain and cryptocurrency policies.

Trump Administration Might Change Treasury’s Stance on Tornado Cash

The crypto industry is closely watching how the United States Treasury might change its approach to Tornado Cash sanctions under a new presidential administration. A recent appellate court decision challenges the Treasury’s handling of the case, potentially paving the way for policy shifts in 2025.

Court Ruling Challenges OFAC’s Authority

On Nov. 26, the US Court of Appeals for the Fifth Circuit ruled that the Office of Foreign Assets Control (OFAC) overstepped its authority when it sanctioned Tornado Cash’s immutable smart contracts in 2022. Though not final, this ruling has paved the way for further litigation in lower courts, where plaintiffs backed by Coinbase may advocate for reforms in how crypto mixers are treated under the law.

The ruling comes as a major victory for some in the crypto industry who have argued that sanctioning immutable smart contracts sets a dangerous precedent for decentralized technology.

Trump’s Treasury May Bring Policy Shifts

Some speculate that this could change should Donald Trump return to the presidency in 2025 and decide to revise the Treasury’s approach to Tornado Cash and other similar cases. According to Bill Hughes, senior counsel at Consensys, a Trump Treasury might absorb the court’s analysis and apply it to its policymaking, perhaps even softening its crypto sanction regime.

The new administration will also usher in fresh leadership as Scott Bessent takes over the Treasury secretary’s role. It is perceived that Bessent’s approach toward the regulation of cryptocurrency would shape the way the Treasury balances interests of innovation with national security concerns.

Developers Face Ongoing Legal Challenges

Tornado Cash developers remain under scrutiny, with ongoing legal battles further complicating the situation. Co-founder Roman Storm faces trial in April 2025, while Roman Semenov is listed as one of the FBI’s most wanted individuals. Meanwhile, Alexey Pertsev, another co-founder, is serving a prison sentence in the Netherlands for money laundering, though his legal team plans to appeal.

Implications for Crypto Regulation

The changing legal and regulatory environment surrounding Tornado Cash has profound implications for the crypto space. A lighter-touch position from the Trump administration would create a useful precedent in how regulators will approach the concept of decentralized platforms and smart contracts going forward under US law. On the other hand, should the hardline approach prevail, it could codify policies and further exacerbate tensions between regulators and the crypto world.

Tags: DonaldTrumpRegulationUS
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service