The 2 Crypto Court Cases You Need To Know About

It’s been a huge couple of weeks in the US, so I thought I’d share a brief recap on what’s been happening, and what it means for us as crypto investors.

First up, we have another loss for the SEC, this time against Grayscale Investments.

In 2021, Grayscale applied to convert its Bitcoin trust to an ETF, which will allow for more accurate trading. It was a reasonable request, which the SEC denied, citing safeguard concerns. Grayscale took legal action over the rejection, and the ruling has now come in:

The SEC has been ordered to review and reassess the rejection.

This is a MAJOR step forward!

The SEC has been denying spot Bitcoin ETF proposals for many years. And while this ruling is no guarantee of approval, it strongly urges the SEC to be more fair in their decisions going forward. It could signal a turning tide, which would be very welcome by the crypto community.

Uniswap Class Action

And in a different US courtroom, we saw a victory for Uniswap, a popular decentralised exchange.

A group of investors filed a class action lawsuit against Uniswap after investing in scam tokens bought on the site. The result has come in, and the case has been tossed out!

According to the judge, there was no evidence that Uniswap should wear the blame for investors buying scammy tokens.

This. is. Incredible.

With this ruling, the judge has understood one of the most basic and fundamental laws of DeFi and crypto.

Crypto gives the power back to us, but we must also take the responsibility. 

The truth is, anyone can create a crypto token and attempt to sell it on a DeFi platform. There will always be scammers looking for a quick buck and we shouldn’t blindly presume that everything we see is legitimate. That’s why it’s so important to do your research, check the whitepapers and look at the project team behind any of the coins you’re interested in.

These rulings are significant victories for the crypto space. It’s definitely an exciting time.