Uniswap received a Wells Notice, or formal notice of a potential lawsuit, from the SEC on Wednesday.
Uniswap Labs has received a warning that federal regulators will bring a lawsuit against it, the protocol's founder said Wednesday on X.
The Securities and Exchange Commission sent Uniswap Labs, the organization that developed the eponymous decentralized finance protocol, received a Wells Notice on Wednesday. A Wells Notice is a formal notice that the SEC intends to bring charges against a respondent. The move comes amid a broader regulatory crackdown on DeFi, viewed by some as the unruly sector of an industry the SEC chairman once referred to as the "Wild West.
“It’s been clear for a while that rather than working to create clear, informed rules, the SEC has decided to focus on attacking long-time good actors like Uniswap and Coinbase,” Uniswap founder Hayden Adams said Wednesday in a post on X. Uniswap is the largest decentralized exchange by daily trading volumes, processing 22.5% of trading volume, according to CoinGecko's data. Its targeting by regulators comes roughly a year after its competitor SushiSwap was subpoenaed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. SEC Issues Wells Notice to Decentralized Exchange UniswapThe 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.
Read more »
XRP price dips to four week low, Ripple CLO critiques SEC Director’s statements on lawsuitRipple (XRP) price is in a downward trend this week, down to $0.5623 low, for the first time in nearly four weeks.
Read more »
Hester Peirce blasts SEC, Gurbir Grewal rejects SEC criticism: Law DecodedSpeaking at the annual SEC Speaks conference, Peirce said that a “particularly pernicious weed” had sprung up in the SEC’s “secret garden” of policy guidelines.
Read more »
'SEC Is All Hat': Ripple CLO Reflects on Coinbase v. SEC BattleRipple's Chief Legal Officer Stuart Alderoty casts doubt on SEC's assertions in Coinbase case, questioning regulator's arguments
Read more »
XRP price declines 7% on the week, Ripple CLO defends “non-security” status of tokenRipple (XRP) price slipped below the key psychological level of $0.60, for the first time in nearly 10 days.
Read more »
Grayscale CLO believes spot ether ETFs 'should be approved'Craig Salm believes a highly anticipated spot ether ETF 'should be approved,' citing bitcoin ETF similarities.
Read more »