- The U.S. court's Tornado Cash ruling is expected to have a positive impact on Ethereum (ETH) and DeFi.
- According to 10X Research, this ruling is expected to make smart contract development more active.
- Ethereum is positioned as a representative blockchain for DeFi, and the ruling is expected to positively influence the DeFi ecosystem.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Recently, a U.S. district court ruled that the Treasury's sanctions on Tornado Cash smart contract are illegal, which is seen as a positive for Ethereum (ETH) and DeFi.
According to Decrypt on the 28th (local time), the analysis firm 10X Research stated, "This ruling establishes a precedent where programmers are not held liable for sanctions and can develop smart contract protocols without fear."
Furthermore, "Ethereum is a representative blockchain for DeFi, and this ruling is expected to have a positive impact on the DeFi ecosystem," it was evaluated.
Previously, in 2022, the U.S. Treasury's Office of Foreign Assets Control (OFAC) designated Tornado Cash as a sanctioned entity. Subsequently, a federal court issued a ruling supporting this, and last year, six employees of CoinBase filed a lawsuit against this decision. Later, a U.S. district court ruled that Tornado Cash's 'open source, immutable smart contract' is not a sanctionable asset and overturned the previous ruling.

Suehyeon Lee

shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.PiCK News
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