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SEC Sent a Wells Notice to Decentralized Exchange Uniswap

Published 04/11/2024, 03:32 PM
Updated 04/11/2024, 03:45 PM
SEC Sent a Wells Notice to Decentralized Exchange Uniswap
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  • Uniswap Labs confirmed that the DEX received a lawsuit warning from the SEC.
  • The exchange’s legal chief said that the agency is overreaching its authority.
  • Uniswap will fight this potential lawsuit and anticipate a favorable outcome.

Uniswap Labs, the firm behind Ethereum’s largest decentralized exchange (DEX), found itself in the crosshairs of the United States Securities and Exchange Commission (SEC).

The regulatory body issued a Wells Notice to the company, signaling its intention to pursue enforcement action, according to a report from Bloomberg. This development was initially disclosed through a blog post by Uniswap, although the SEC has chosen not to provide commentary at this time.

The nature of the potential legal action remains ambiguous, leaving industry observers and stakeholders in speculation. However, SEC Chairman Gary Gensler’s persistent stance regarding the regulatory oversight of decentralized crypto exchanges offers some clues.

Gensler has previously contended that such platforms, including Uniswap, do not truly operate in a decentralized manner, positioning them within the…

The post SEC Sent a Wells Notice to Decentralized Exchange Uniswap appeared first on Coin Edition.

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