Katherine Polk Failla

Rule Changes

As of August 2026: Presiding over the Tornado Cash prosecutions

A federal judge has ruled that a crypto protocol can be a money transmitter even when its operators never control users' funds. Judge Katherine Polk Failla rejected the no-custody defense at the center of the Tornado Cash and Samourai Wallet cases, letting the prosecutions proceed.

Updated Aug 31

Rule Changes

As of July 2026: Syria TPS injunction vacated by Supreme Court ruling

On June 25, 2026, the Supreme Court ruled 6-3 in Mullin v. Doe that courts cannot review non-constitutional challenges to TPS terminations. Justice Alito wrote the majority opinion; the three liberal justices dissented.

Updated Jul 24

Rule Changes

As of May 2026: Upheld PDVSA 2020 bonds’ validity under Venezuelan law on remand.

CITGO has been the prize everyone can see, but almost nobody can touch. For years, a single U.S. sanctions lever has decided whether the PDVSA 2020 bond's "CITGO shares" collateral is a real hammer—or just a threat on paper.

Updated May 15