based on materials from the site - By COINTURK NEWS
The U.S. Department of the Treasury has decided to officially withdraw the appeal related to Tornado Cash sanctions, bringing an end to a long-standing legal dispute concerning this cryptocurrency mixer service. However, the court case surrounding one of its key developers, Roman Storm, is still ongoing. This development has various implications in the crypto community, sparking discussions about the future regulatory consequences of such sanctions and legal motions.
Conclusion of the Tornado lawsuit
Last year, the U.S. Department of the Treasury lifted sanctions on Tornado Cash, which were initially imposed to prevent money laundering activities. The Treasury also waived its rights to appeal in the case filed alongside Coin Center. As a result, the department ended its legal battle regarding Tornado Cash.
This outcome has been perceived differently in the cryptocurrency industry. Experts suggest that the lifting of sanctions and the closure of the case could lead to significant consequences for the regulation of the crypto sector. Coin Center welcomed the dismissal of the lawsuit as a positive step toward legal security for open-source software developers.
Following this news, the price of TORN Coin rose by more than 20% and reached $11.5 before dropping to $9.4 amid related discussions.
The legal proceedings against Roman Storm, a major developer of Tornado Cash, are still ongoing. Currently, U.S. authorities continue to file charges against Storm while he defends his legal rights. According to official sources, a verdict in Storm's case has not yet been reached.
Aside from his personal battle, Roman Storm's legal dispute may set a precedent for other open-source software developers and similar cases in the cryptocurrency software industry. Industry representatives emphasize the importance of resolving such cases for software developers.
Observations across the sector and potential outcomes
Industry figures believe that the events during the court process regarding Tornado Cash could lead to changes in regulation in the long term. Experts have closely monitored this process to track the impact of laws and sanctions on the cryptocurrency sector.
Decisions made by the U.S. Department of the Treasury regarding the operation of such platforms directly affect the implementation and projects in the sector. Developers contributing to open-source software development have been concerned since this process began under the Biden administration. Although the issue related to the platform has been resolved, any potential punishment against the open-source software developer Roman Storm will have significant consequences.
Legal changes in this sector may manifest their influence over time, as experts often suggest. It is emphasized that the ways in which legal processes and rules are applied may change with new decisions. After the closure of the Tornado Cash case, industry players plan to act with greater caution regarding legal risks and compliance. Software developers in the cryptocurrency sector are advised to closely monitor potential legal risks and regulatory frameworks they may encounter in the future.
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