{"id":21739,"date":"2023-08-31T02:29:25","date_gmt":"2023-08-31T02:29:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/uniswap-lawsuit-judge-calls-ether-a-commodity-in-dismissal-order\/"},"modified":"2023-08-31T02:29:26","modified_gmt":"2023-08-31T02:29:26","slug":"uniswap-lawsuit-judge-calls-ether-a-commodity-in-dismissal-order","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/uniswap-lawsuit-judge-calls-ether-a-commodity-in-dismissal-order\/","title":{"rendered":"Uniswap lawsuit judge calls Ether a commodity in dismissal order"},"content":{"rendered":"
<\/p>\n
A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap.<\/p>\n
In an Aug. 30 dismissal order of the case brought by Uniswap users who claimed they lost money due to scam tokens on the exchange \u2014 Judge Katherine Polk Failla wrote ETH and Bitcoin (BTC) were \u201ccrypto commodities.\u201d<\/p>\n
The distinction was also part of her reasoning for dismissing the case \u2014 Failla said she wasn\u2019t convinced by an argument that Uniswap\u2019s token sales were subject to the Exchange Act.<\/p>\n
Interestingly, Failla is also the judge overseeing the SEC lawsuit against Coinbase. She has also had previous experience in overseeing other crypto cases in the past, including one involving Tether and Bitfinex.\u00a0<\/p>\n
\nThe SDNY (Failla, J.) also explicitly found in its August 29 decision in Risely v. Uniswap that <\/p>\n
Ethereum is a commodity, not a security. <\/p>\n
No analysis of the issue, just the conclusion, but still, pretty definitive statement if you ask me.<\/p>\n