Appellate Court’s Verdict: The appellate court in the U.S. declared that OFAC’s sanctions against Tornado Cash were unlawful. According to the court, Tornado Cash’s smart contracts cannot be considered assets as they can’t be controlled by anyone.

Sanctions Lifted: This decision not only overturned OFAC’s sanctions but also affirmed the continued use of the Tornado Cash protocol. Tornado Cash users can now freely participate in the market without legal barriers.

Impact on Cryptocurrency Market: Experts predict that this decision will have a major impact on the regulation and operation of the cryptocurrency market. It could set a precedent for similar projects in the future, fostering easier development of the cryptocurrency ecosystem.

New Legal Perspective: The ruling brings a new perspective to the legal framework for cryptocurrencies. The inability to classify smart contracts as assets creates more flexibility within the legal context, setting precedent for other projects dealing with regulation.