Uniswap Labs urged the SEC to stop its attempt to rule over DeFi, saying a recent Supreme Court decision makes it clear the SEC won’t win a court challenge.
Uniswap Labs argues the SEC’s proposed legal amendments to give it power over DeFi are being made against “a legal backdrop that no longer exists.”
Uniswap has been among those arguing against it. In a July 9 letter, Uniswap added further arguments following a comment letter it— made during the Loper Bright Enterprises v. Raimondo Supreme Court case on June 28 — courts are no longer required to defer to federal agencies to interpret ambiguous laws.
“If the Commission moves forward with its proposed amendments, a reviewing court is certain to conclude that the Commission’s interpretation of the Exchange Act stretches the statutory text too far.”
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