Opinion: The crypto industry has won two major legal victories recently, dealing a blow to Senator Warren's anti-money laundering bill

FOX Business reporter Eleanor Terrett wrote on X that the crypto industry has achieved two major legal victories in the past few days: 1. Today, the Fifth Circuit Court of Appeals ruled on Tornado Cash, saying that the U.S. Treasury Department's addition of open source protocols to the list of sanctioned entities was illegal. This ruling will set a precedent that open source technology cannot be banned simply because it is used by bad actors-this is also a blow to Senator Elizabeth Warren's anti-money laundering bill. 2. A district judge overturned the U.S. Securities and Exchange Commission's proposed expansion of broker-dealer rules, which would include decentralized protocols and automated market makers in the agency's definition of "dealer", making them subject to regulatory review. The judge ruled that the SEC tried to cast such a wide net that it exceeded its congressional powers.