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US SEC Reportedly Takes Action Against DeFi Platform Uniswap

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US SEC,Defi,Uniswap

The United States Securities and Exchanges Commission (SEC) has reportedly started to set the base against one of the leading DeFi platforms – Uniswap. The speculation of a possible legal action against the crypto-focused protocol comes after the commission sent a Wells Notice to Uniswap Labs.

The United States Securities and Exchanges Commission (SEC) has reportedly started to set the base against one of the leading DeFi platforms – Uniswap . The speculation of a possible legal action against the crypto-focused protocol comes after the commission sent a Wells Notice to Uniswap Labs. The announcement of the notice was made by the founder of Uniswap – Hayden Adams today.

Launched in 2018 on top of the Ethereum blockchain, Uniswap has grown to become the biggest decentralized exchange in the cryptocurrency world. According to CoinMarketCap, the DeFi protocol had a trading volume of over $1 billion at press time. However, its massive growth has now caught the attention of one of the most infamous actors in the crypto space – the US SEC. In a post on X (formerly Twitter), Adams expressed that the notice did not come as a surprise but was “Just annoyed, disappointed, and ready to fight.” The founder also asserted that the products offered on Uniswap were legal and that their “work is on the right side of history”. Adams also stated that the commission continues to attach “long-time good actors like Uniswap and Coinbase”. However, it paid no attention to “bad actors like FTX”, a crypto-exchange that declared bankruptcy in November 2022, resulting in thousands of investors losing money

Source: Law Daily Report (lawdailyreport.net)

US SEC Defi Uniswap Wells Notice Cryptocurrency Decentralized Exchange

 

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