Uniswap Labs received a Wells notice informing them that the SEC was considering taking enforcement action against them.š
Uniswap Ready to Fight Back the U.S. Securities and Exchange Commission. š
Uniswap's COO Mary-Catherine Lader and Chief Legal Officer Marvin Ammori informed journalists that the Wells notice primarily focused on allegations of Uniswap operating as an unregistered securities broker and exchange.š
Ammori expressed his belief that Uniswap does not currently meet the SEC's criteria for an exchange. š
He also referenced a recent court ruling in the SEC's case against Coinbase, where a judge determined that Coinbase Wallet was not a broker, which could end well for Uniswap's defense against similar charges.š
Uniswap expressed disappointment that the SEC is focusing on protecting opaque systems rather than consumers.ā¹ļø
The company believes the SEC is stifling innovation and unfairly targeting legitimate DeFi businesses.š£
They claim that the tokens they are offering are not securities and add that the Uniswap community will have to fight the US government agency in court.
š