The U.S. Securities and Exchange Commission (SEC) issued a warning to UniSwapLabs on Wednesday, hinting at possible enforcement action against the company. UniSwapLabs is the founder of the decentralized trading protocol UniSwap Protocol, which is the leading protocol in the DeFi field. Since its launch five and a half years ago, UniSwap has traded more than $2 trillion, accounting for 55.5% of the total trading volume in the decentralized trading market.
The warning was issued in the form of a Wells notice, which is an informal reminder issued by the SEC to the company involved before formally filing a lawsuit, giving the company a last chance to refute the allegations. Receiving a Wells notice does not mean that the SEC will definitely file a lawsuit, but it is the company's last chance to defend against the allegations. According to rumors, the SEC's investigation into UniSwap has been going on for some time and is seeking a comprehensive crackdown on the cryptocurrency industry.
An SEC spokesperson said in an interview: "The U.S. Securities and Exchange Commission does not comment on whether there is a possible investigation."
Although the specific nature of the SEC's charges against UniSwapLabs is not yet known, previous lawsuits against well-known cryptocurrency companies such as Coinbase show that there is a high possibility of illegally offering unregistered securities to the public or failing to register as a broker or compliant exchange.
UniSwap's COO Mary-Kathryn Read and Chief Legal Officer Marvin Amory revealed in a press conference on Wednesday afternoon that the content of the Wells notice focused on UniSwap as an unregistered securities broker and unregistered securities exchange, but it is unclear whether UniSwap's native token UNI is involved.
The timing of this warning is delicate, just as the cryptocurrency industry is full of dissatisfaction with the SEC. SEC Chairman Gary Gensler countered that the current securities laws are clear and the cryptocurrency industry is seeking special treatment but not complying with the law.
Historically, the SEC and the cryptocurrency industry have frequently clashed. Cases involving companies such as Coinbase and Ripple involve the SEC's jurisdiction over digital assets and how the 1946 Supreme Court's test for the definition of securities applies to cryptocurrencies.
Although UniSwap is facing a lawsuit, the uniqueness of DeFi technology and UniSwapLabs’ victory in the previous class action lawsuit make the outcome of the case difficult to predict.
As a leading project in the DeFi field, the UniSwap protocol has expanded its technology and influence widely, attracting the attention of the mainstream financial community. UniSwapLabs also showed firm confidence in its compliance.
Overall, the SEC's lawsuit against UniSwap has attracted widespread attention in the industry. The outcome of the lawsuit will have a far-reaching impact on the entire cryptocurrency industry. #UNI📈 #热门话题