A federal judge in New York tossed out a suit that accused decentralized cryptocurrency exchange Uniswap Labs of patent infringement, as the court concluded the asserted patent claims are abstract.
The patents asserted by BProtocol Foundation and LocalCoin Ltd., makers of a rival exchange, “do not purport to solve any technological problem” and instead use existing “blockchain technology in predictable ways,” Judge John G. Koeltl in a Tuesday order granting its dismissal issued in the US District Court for the Southern District of New York.
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