Tornado Cash witnessed a significant increase in its token's value following a favorable legal outcome. The token price soared by 1000% after a U.S. appeals court reversed sanctions previously imposed by the U.S. Treasury Department.
The court ruled that Tornado Cash's smart contracts, which are designed to enhance privacy, do not qualify as property according to U.S. law. This decision means that these smart contracts cannot be subjected to U.S. sanctions.
This legal victory for Tornado Cash is seen as a landmark decision, potentially setting a precedent for similar cases involving blockchain technology and privacy-enhancing software.
