Grayscale and Uniswap Decisions Send a Powerful Message to US Legislators

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Last Updated on September 3, 2023 by Bitfinsider

Federal courts appear to be signalling to Washington politicians that the moment for updated cryptocurrency legislation has arrived.

In recent cases involving Uniswap and Grayscale, courts have criticised the Securities and Exchange Commission’s logic, with one judge suggesting that Congress should take the lead.

The high-profile verdicts came as lawmakers, primarily led by Republicans, have been attempting to design and move measures in an effort to develop comprehensive laws for the industry over the last year. Meanwhile, SEC Chair Gary Gensler has claimed that new legislation is not required to oversee cryptocurrency and that securities law is time-tested.

According to several observers, the judicial logic in both recent court rulings, particularly from judges selected by Democrats, is particularly significant.

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