Gary Gensler Has Avoided Saying This For Ages, But A New York Court Just Did: Ethereum Is A Commodity

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A New York court has classified two major cryptocurrencies, Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC), as commodities, while dismissing a proposed class action lawsuit against decentralized crypto exchange Uniswap. What Happened: The lawsuit, filed in April 2022, claimed that Uniswap had violated U.S. securities laws by operating as an unregistered exchange and offering securities without proper registration. The lawsuit sought to hold Uniswap accountable for investors’ losses to “scam tokens” traded on the platform, including Ethereum-based tokens such as EthereumMax (EMAX), Bezoge (BE…

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