The United States Securities and Exchange Commission (SEC) has issued a Wells notice to the decentralized exchange Uniswap.
On X (formerly Twitter), Uniswap’s Chief Legal Officer Marvin Aomori confirmed the regulator’s notice on April 10.
"Today’s Wells notice against @Uniswap is disappointing, but is not unexpected from this SEC," Aomori wrote.
A Wells notice is a formal notification issued by the SEC to inform a company or individual that the securities regulator's staff intends to recommend enforcement action against them. This notice gives the recipient an opportunity to provide a written explanation or argument (a “Wells submission”) as to why such action should not be taken.
The SEC has issued similar notices in the past, warning about legal actions against crypto exchanges Coinbase and Binance.
This is a developing story, and further information will be added as it becomes available.
