The US Commodity Futures Trading Commission (CFTC) has accused Uniswap of engaging in illegal derivatives trading. The global crypto market cap dropped below $2 trillion as Bitcoin dipped below $60,000. Pro-crypto lawyer John Deaton secured the Republican nomination for the US Senate in Massachusetts. Uniswap Labs, the developer of the decentralized exchange, has agreed to pay a $175,000 fine to settle the charges and stop violating the Commodity Exchange Act. CFTC's enforcement director, Ian McGinley, emphasized the importance of enforcing regulations as digital asset platforms and DeFi ecosystems evolve. The decision to charge Uniswap was not unanimous, with CFTC commissioner Summer Mersinger expressing hope for clearer guidelines for DeFi protocols. Deaton's victory in the primary race sets up a showdown with Democratic Senator Elizabeth Warren, known for her anti-crypto stance, in the upcoming election. Read more AI-generated news on: https://app.chaingpt.org/news