Uniswap's token, UNI, plummeted to a six-week low following a notice of potential lawsuit from US regulators, which the platform is prepared to contest. The Securities and Exchange Commission issued a Wells notice to Uniswap, triggering a 10% drop in UNI's value. Founder Hayden Adams expressed readiness to fight the legal battle, anticipating a lengthy process that may reach the Supreme Court. Uniswap maintains that UNI is not a security under US law. Despite uncertainties, experts suggest that the SEC is likely to pursue legal action. The situation mirrors the ongoing legal challenges faced by Coinbase. The crypto community remains vigilant as regulatory scrutiny intensifies, with the outcome potentially shaping the future of decentralized exchanges. Read more AI-generated news on: https://app.chaingpt.org/news
