10X Research "Tornado Cash ruling will greatly help Ethereum and DeFi"

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.