A U.S. judge has ruled that the Van Loon verdict will not be discussed in the upcoming trial of Tornado Cash co-founder Roman Storm in the Southern District of New York.
The decision could influence how regulatory authorities and the crypto community approach anonymous coin mixers like Tornado Cash, which affect governance token market dynamics.
Judge Bars Van Loon Verdict from Tornado Cash Case
The judgeโs ruling to exclude the Van Loon verdict from trial discussions marks a pivotal moment in the Tornado Cash case. This decision follows the Eleventh Circuit Courtโs major role in vacating previous rulings against Tornado Cash.
Co-founders Roman Storm and Roman Semenov face money laundering charges as pivotal players in this case. Peter Van Valkenburgh, Executive Director at Coin Center, noted the dismissal as the โofficial endโ to a major legal battle.
Token TORN Price Rises Despite Legal Exclusion
The effective exclusion of the verdict affects market sentiment surrounding Tornado Cash. The governance token TORN experienced a price increase, highlighting investor interest despite ongoing legal challenges.
Key trends include the potential for increased regulatory scrutiny on similar protocols, as well as technological shifts in crypto privacy tools. The ruling emphasizes a shift towards โtargeted toolsโ to monitor illicit flows.
2024 Ruling Influences Crypto Regulatory Approaches
Comparatively, the 2022 sanctions on Tornado Cash led to a drastic drop in TORNโs price. Van Loonโs 2024 judgment provided critical insights into smart contractsโ legal character, reshaping regulatory approaches significantly.
Experts from Kanalcoin suggest the ruling could prompt crypto developers to revisit legal strategies, focusing on the evolving landscape of digital privacy and international trade laws in relation to decentralized platforms.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |