The SEC has targeted Uniswap Labs, the operator of the largest decentralized exchange, with a Wells Notice. Uniswap Labs affirmed its readiness to contest the SEC’s action and assured stakeholders that its products remain unaffected.
Despite the regulatory scrutiny, Uniswap emphasized the decentralized nature of its platform and expressed confidence in its compliance with legal standards.
Chairman Gensler’s stance on decentralized exchanges falls under SEC jurisdiction, sparking debate. Allegations against Uniswap resemble past cases against centralized exchanges.
Uniswap’s legal officer suggests SEC’s actions imply most tokens are securities. Decentralized exchanges argue their structural differences. Despite this, they remain significant in crypto trading volume.
Within 24 hours, Uniswap’s UNI token and other decentralized exchange tokens saw some declines, with UNI dropping below $10. Uniswap’s COO, Mary-Catherine Lader, views the SEC’s actions as hindering innovation but remains optimistic about overcoming challenges.
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