Uniswap Foundation Defies SEC Wells Notice, Maintains Free Conversions

In defiance of a recent Wells Notice from the SEC, the Uniswap Foundation remains steadfast in its commitment to offering free conversions. Uniswap Labs contends that, within the existing legal framework, the SEC lacks jurisdiction over its decentralized protocol.

This stance comes at a crucial juncture, with the pending vote on the '21st Century Financial Innovation and Technology Act' in the House of Representatives, poised to reshape cryptocurrency regulation by the SEC and CFTC.

Furthermore, Uniswap's disclosure of a potential new fee mechanism underscores its ongoing commitment to decentralization. If approved, control of the mainnet UniswapV3Factory will transition to a bespoke V3FactoryOwner contract, marking a significant milestone in Uniswap's journey towards decentralized governance.