๐Uniswap Labs, the brains behind the world's largest decentralized exchange, is ready to duke it out with the SEC. The regulator has issued a Wells Notice, but Uniswap's team is unfazed.๐ฅ
- The team sees this as another political move to target top crypto players, like themselves and Coinbase.
- They assure all Uniswap products and the Uniswap Protocol remain unaffected.๐ก๏ธ
- Uniswap Labs, based in NYC, is a key contributor to the Uniswap protocol on Ethereum, enabling global, trustless trading of crypto tokens.
- The SEC's beef? Unclear, but they've sued other exchanges for listing alleged securities and project teams for issuing unregistered securities. Uniswap Labs could be seen as guilty of both.๐
Uniswap's defense? The assets traded on its protocol, including its native UNI token, don't constitute securities. They argue that current law doesn't give SEC jurisdiction over self-custodial, on-chain trading decisions.
Thoughts? ๐ญ #DeFi #Uniswap #SEC