Crypto Currency News01 Sep, 2023News
Uniswap, a federal judge in New York has delivered a resounding verdict on a high-profile class-action lawsuit alleging fraudulent token sales on the popular decentralized exchange platform. With significant ramifications expected across both the DeFi sector and the current securities regulations landscape, this dismissal reaffirms essential principles governing cryptocurrency operations while bringing clarity to industry standards. The plaintiffs had accused Uniswap and its founder Hayden Adams of facilitating unregistered security transactions and complicity in rampant fraud occurring on their platform. It was even argued that Uniswap should register with regulatory bodies such as the Financial Industry Regulatory Authority. However, Judge Katherine Polk Failla found these claims lacked substantial factual support.
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