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Uniswap Labs received a Wells notice informing them that the SEC was considering taking enforcement action against them.😕
Uniswap Ready to Fight Back the U.S. Securities and Exchange Commission. 😟
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.😔
Ammori expressed his belief that Uniswap does not currently meet the SEC's criteria for an exchange. 😒
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.😔
Uniswap expressed disappointment that the SEC is focusing on protecting opaque systems rather than consumers.☹️
The company believes the SEC is stifling innovation and unfairly targeting legitimate DeFi businesses.😣
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.
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