The United States Securities and Exchange Commission (SEC) has issued a Wells notice to the decentralized exchange Uniswap, giving the company an opportunity to respond before enforcement action is recommended.
The U.S. SEC issued a Wells notice to the decentralized exchange Uniswap on April 10, the team confirmed on social media. The United States Securities and Exchange Commission (SEC) has issued a Wells notice to the decentralized exchange Uniswap . On X (formerly Twitter), Uniswap ’s chief legal officer Marvin Ammori confirmed the regulator’s notice on April 10.
“Today’s Wells notice against“If the SEC had authority over our self-custodial, non-intermediated products, it could tell us how to register them. It can't and so it doesn't. It has provided no clarity and no guidance – as several SEC commissioners have stated in multiple dissents.” A Wells notice is a formal notification issued by the SEC to inform a company or individual that the regulator’s staff intends to recommend enforcement action against them. This notice gives the recipient an opportunity to provide a written explanation or argument (a “Wells submission”) as to why such action should not be taken. Uniswap enables automated token exchanges on the Ethereum blockchain, allowing users to swap several crypto tokens without needing traditional intermediaries like centralized exchanges.As part of its defense, Uniswap Labs previously claimed that it is only the software developer responsible for building the front-end portal to the app. The front-end is separate from the Uniswap protocol itself, which is autonomous code released for public us
U.S. SEC Wells Notice Decentralized Exchange Uniswap Cryptocurrency Ethereum Blockchain
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