According to Blockworks, the U.S. Securities and Exchange Commission (SEC) issued a Wells Notice to the decentralized financial platform Uniswap on Wednesday, which usually foreshadows an upcoming enforcement action.
Uniswap CEO Hayden Adams said he was not surprised, just annoyed and disappointed, and was ready to fight. He said he was confident that the products we provide are legal and that our work is on the right side of history. A representative of the SEC declined to comment.
Uniswap’s chief legal officer, Marvin Ammori, also called the notice “yet another abuse of power” by the SEC. Uniswap executives did not specify what the SEC accused the company of doing wrong. The team did not immediately respond to Blockworks’ request for comment.
“People often ask me why we want to stay in the U.S., and my answer is simple: I believe blockchain is an incredibly powerful technology,” Adams wrote.