The Fifth Circuit has just opined that the smart contracts that comprise the Tornado Cash cryptocurrency tumbler are "not property because they are not capable of being owned", and thus cannot be sanctioned by OFAC.
@molly0xfff wait a sec: if they contracts can't be owned, how can the assets be "theirs" to retrieve?
@FeralRobots think of the smart contracts as a machine that allows you to put $ in and in exchange you get a unique ticket. when you put that ticket back in the machine at some later point, it gives you the same amount of $ back. they're saying that the machine itself can't be controlled (namely, it can't be made to exclude any particular person from putting money or codes into it). the contents of the machine are a different question.