How the Tornado Cash ruling is a victory for crypto

The Fifth Circuit Court of Appeals ruled that the Treasury Department’s sanctions on Tornado Cash’s immutable smart contracts were invalid, as the code cannot be considered “property”. This decision sets a precedent for decentralized protocols beyond traditional property laws. While balancing privacy and security concerns, the court urged Congress to update laws to address modern technologies like cryptocurrencies. The ruling emphasizes the need for a regulatory framework that aligns with the complexities of evolving technology.