Key Takeaways
- The US Treasury has ended its authorized enchantment relating to Twister Money sanctions enforcement.
- The federal government’s coverage reversal terminates enforcement of sanctions on Twister Money.
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The US Treasury Division has ended its authorized enchantment relating to Twister Money sanctions enforcement following a district courtroom ruling that deemed the unique mandate unenforceable, in accordance with a brand new report from Bloomberg Legal guidelines.
Coin Middle and federal authorities collectively filed for dismissal of their enchantment earlier than the Eleventh Circuit Court docket, which was pending a call. The Eleventh Circuit granted the movement as we speak, vacating the earlier judgment and ordering the case’s dismissal.
The enchantment had centered on whether or not the Treasury’s Workplace of International Property Management (OFAC) exceeded its authority by imposing sanctions on Twister Money, a Russian-developed crypto mixing software program. Whereas arguments have been introduced in November 2024, the courtroom by no means issued a ruling as the federal government’s coverage reversal made it pointless.
On account of the federal government’s resolution, Twister Money’s sanctions steerage will not be enforced.
It is a creating story. Please come again for additional updates.
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