The TORN token of Tornado Cash surged to a two-year high following a US court ruling that deemed the Treasury sanctions on the platform illegal. Tornado Cash, an on-chain privacy tool utilizing smart contracts for anonymous crypto transactions, faced sanctions in 2022 for allegedly aiding in laundering over $7 billion in crypto, including stolen funds linked to North Korea. The court found that the Treasury overstepped its authority by sanctioning Tornado Cash's immutable smart contracts, which are decentralized and not owned by any individual or entity. Despite the ruling, the TORN token price spiked by 400% to $40 before settling around $18. Industry leaders hailed the decision as a victory for decentralized technologies and privacy rights, emphasizing the importance of protecting open-source software from unjust sanctions. The judgment signifies a significant win for the crypto community and sets a precedent for future regulatory actions. Read more AI-generated news on: https://app.chaingpt.org/news