In the Risely-Uniswap case, the US District Court delivered a clear and definitive statement affirming Ethereum's classification as a commodity, not a security.
Although this conclusion is given without detailed analysis, it is a decisive statement regarding Ethereum's classification. There is also some implication that wrapped Bitcoin ($WBTC ) could also be considered a commodity, although this is not stated explicitly.
The statement confirming Ethereum $ETH as a commodity was called “irrefutable” by lawyer Bill Hughes in a post on his Twitter page and was seen as a significant decision by the judge.
Previously, the Southern District Court of New York dismissed a class action complaint against Uniswap, stating that the platform was not liable for the rug pull scam.
The judge ruled that Uniswap's role as an infrastructure provider did not make it liable for fraudulent acts committed by the token issuer. This could affect the application of current securities laws to DeFi more directly than in the case of Ripple or TerraForm Labs.
