Cryptocurrency users who crave privacy protections had a lot to be thankful for this past Thanksgiving.

Two days before the holiday, a unanimous three-judge panel of the Fifth Circuit ruled that the Treasury Department’s Office of Foreign Assets Control (OFAC) had acted in an arbitrary and capricious manner not supported by substantial evidence when it “overstepped its congressionally defined authority” in sanctioning “Tornado Cash’s open-source, self-executing software” instead of “the rogue persons and entities who abuse it.”

In plain English, Congress didn’t give OFAC the power to do what it did: sanction software code owned by no one.

But let’s back up. As I have

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Author: Zack Smith