Uniswap Labs issued an official response to the SEC, calling for the possible lawsuit to be abandoned.
In April, Uniswap Labs received a Wells notice warning of potential litigation from the U.S. Securities and Exchange Commission (SEC). In its response, Uniswap Labs emphasized that it did not meet the definition of an exchange.
Martin Ammeriy, Uniswap Labs' legal director, stated that the SEC will have to reconsider its definition of an exchange if the regulator wants to hold the company accountable. According to him, a large portion of the trading volume on the platform consists of crypto assets such as stablecoins, Ethereum and Bitcoin, which are actually considered commodities.
