Uniswap Class Action Dismissed in Landmark Ruling for DeFi

Aug 30, 2023

By Trent Alan | @trent-rhode

Legal proceedings against Uniswap, a leading decentralized exchange protocol, took a turn today when a class action lawsuit filed against it was dismissed. 

Mike Wawszczak, a legal analyst, revealed that the judge presiding over the case — initially lodged by the US Securities and Exchange Commission (SEC) against Coinbase — found no grounds to proceed with the lawsuit against Uniswap. 

The verdict arrived after an extended legal process leading back to April 2021 that scrutinized the specifics of Uniswap's operations and their alignment with financial regulations.

The Uniswap Class Action: Theories and Dismissal

The plaintiffs' case against Uniswap was built on two main theories: the transfer of title theory and the solicitation theory.

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