Krutika Adani
Court rules Uniswap not liable for third-party token misuse
Strengthens legal protections for decentralized finance innovators
A major win for DeFi ecosystem builders
Plaintiffs claimed Uniswap enabled scam token trading
Alleged smart contracts functioned as securities agreements
Court examined whether Uniswap’s role constituted direct liability
Ruling states DeFi protocols act as neutral frameworks
Compares Uniswap to Nasdaq or NYSE, not a token issuer
Confirms smart contracts do not automatically equate to securities
Differentiates DeFi infrastructure from active financial intermediaries
Contrasts with cases against Tornado Cash and Samourai Wallet
Signals limits on applying traditional securities laws to DeFi
Reinforces DeFi’s position as neutral financial technology
Could influence future lawsuits and regulatory approaches
A defining moment for the legal status of decentralized protocols