Uniswap responded to the SEC's Wells Memorandum, calling on the commission to learn from past cases and stay within constitutional limits. 📜 In April, the SEC accused Uniswap Labs of operating an unregistered securities broker and exchange through its Ethereum-based automatic market-making protocol and wallet product. Uniswap questioned the SEC's legal authority and definition of specific DeFi instruments. Uniswap argued that the SEC's planned lawsuit was an overuse of powers given to the agency by Congress. Uniswap's lawyer noted that the SEC is reusing debunked arguments from previous lawsuits against companies like Ripple and Coinbase.