Consensys lawyer: The dismissal of the Uniswap class action may set a precedent for DeFi platform-related cases

Odaily News Consensys lawyer Bill Hughes posted 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. Hughes said that just because Uniswap created the platform, it does not mean that Uniswap is responsible for fraud on the platform and the damage it causes. The court ruled: 1. The Uniswap platform can be used for legal purposes, and in many cases is indeed used legally; 2. There is no transaction between the plaintiff and the company behind the Uniswap platform/protocol; 3. The current US securities laws do not seem to involve DeFi The liability of the protocol itself for the use of its protocol to defraud others. Hughes said: So this is very important, and cryptocurrency lawyers will soon cite this case and its ruling. We will watch whether the plaintiffs appeal, and they have the right to appeal. This will be an important case for the Second Circuit to decide. 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. The plaintiff tried to hold 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 the misconduct of third parties.