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IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF TEXAS AUSTIN DIVISION
JOSEPH VAN LOON, et al., Plaintiffs,
v.
DEPARTMENT OF TREASURY, et al., Defendants.
1:23-CV-312-RP
[…]
A. Technical Background
1. Cryptocurrency and Blockchain Technology
The government describes “cryptocurrency” as follows: Cryptocurrency is a type of virtual currency that can be traded and exchanged on blockchains, and that can be used for payment or investment purposes. (See Admin. Record (“A.R.”) Vol. 1, Dkt. 91-1, at 22–23; A.R. Vol. 23, Dkt. 91-3, at 157–58). A “blockchain” is a decentralized ledger, or record of transactions, that relies on an online network of users to maintain the ledger’s accuracy. (A.R. Vol. 1, Dkt. 91-1, at 23; A.R. Vol. 2, Dkt. 91-2, at 97). Cryptocurrency...
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1) Refer to Consolidated Comment on the Designation and Redesignation of Tornado Cash; Ensuing Litigation (System Ed. Note) for comments, and note that this ruling was overruled by Joseph Van Loon et al v. Department of the Treasury et al. (2024, 5th Cir.)