11th Circuit Reject Tornado Cash Appeal, TORN Token Sharp Spike
Eleventh Circuit Court don dismiss Coin Center appeal wey dem carry against Tornado Cash sanction dem. For joint motion wey dem do with U.S. Treasury, court cancel lower court ruling and close case, comot challenge wey dey OFAC 2022 sanction against Tornado Cash address dem. Different lawsuits wey Tornado Cash users get with Coinbase support still dey pending. After dem drop appeal, TORN token jump pass 14% reach $10.55, later settle near $9.47. Peter Van Valkenburgh, executive director for Coin Center, talk say government no defend their "overbroad interpretation" of sanction law. Meanwhile, co-founder Roman Storm dey face U.S. criminal trial for money laundering and sanction breach. Alexey Pertsev don convict in Netherlands, and developer Roman Semenov still dey at large.
Bullish
Di dismiss di appeal wey dem make against di Tornado Cash sanction dem plus di cancelation of lower court rulings na legal win wey go boost market confidence. TORN token sharply jump pass 14% after dis news, show sey short-term demand dey strong. For long-term, if regulatory sabi clear for Tornado Cash, e fit help maintain demand steady, but di ongoing criminal trial against co-founder Roman Storm still dey create wahala. Overall, dis legal move good for TORN future outlook.