Consensys lawyer: Uniswap class action dismissed or sets precedent for DeFi platform-related cases

Odaily Planet Daily News Consensys lawyer Bill Hughes wrote on X that a class action lawsuit against Uniswap was dismissed by the court, which may set a precedent for future legal cases involving DeFi platforms, which more directly affects the current one than Ripple or Terraform Labs lawsuits. The application of securities laws to DeFi. Hughes said that Uniswap created the platform, which does not mean that Uniswap is responsible for fraud on the platform and the damage it causes. The court ruled: 1. The Uniswap platform is legally used in many cases; 2. There is no transaction between the plaintiff and the company behind the Uniswap platform/protocol; 3. The current securities law does not seem to involve the DeFi protocol itself against using its protocol to defraud others responsibility for the conduct. Hughes mentioned: "So this is very important, cryptocurrency lawyers will soon remember the citation of this case, we will pay attention to whether the plaintiffs appeal, they have the right to do so, this will be an important case for the Second Circuit to decide. " In previous news, court documents showed that a judge in the U.S. Southern District Court of New York dismissed a class action lawsuit against Uniswap and Paradigm, and the plaintiffs tried to make these companies responsible for the "fraudulent tokens" sold on Uniswap AMM. Community members commented that the judge’s dismissal of the class action largely means that protocol developers should not be held liable for wrongdoing by third parties.