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Judge in Uniswap lawsuit dismisses case, classifying Ether as a commodity

Judge in Uniswap lawsuit dismisses case, classifying Ether as a commodity

– United States District Court Judge Katherine Polk Failla has dismissed a class-action lawsuit against decentralized exchange Uniswap.

– In her dismissal order, Failla referred to Ether (ETH) and Bitcoin (BTC) as “crypto commodities.”

– Failla’s distinction between commodities and securities was a key factor in dismissing the case.

– Failla is also the judge overseeing the Securities and Exchange Commission’s lawsuit against crypto exchange Coinbase.

– This comment by Failla does not provide a definitive ruling on Ether’s legal classification in the U.S., but it adds to the ongoing debate on how cryptocurrencies should be regulated.

– The Securities and Exchange Commission and the Commodity Futures Trading Commission have conflicting views on the jurisdiction of cryptocurrencies.

– U.S. lawmakers are currently considering various bills to provide regulatory clarity for digital assets and determine the authority of the SEC and CFTC over crypto.

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