SEC Officially Sends Statement of Intent to Sue Uniswap
Uniswap founder Hayden Adams announced on Wednesday that the SEC had sent a Wells notice to Uniswap Labs, requesting compliance with law enforcement.
The SEC has sent a Wells notice to Uniswap Labs, declaring their intention to enforce the law.
Hayden Adams, the founder of Uniswap, stated: âIâm not surprised. I just feel uncomfortable and disappointed, but weâre ready to face the challenge. I believe that the products we provide are legal and we are doing the right thing historically.â
Adams also expressed dissatisfaction with the SEC focusing on dealing with companies like Uniswap and Coinbase instead of addressing cases like FTX.
The SEC has been investigating Uniswap for a long time. According to the Wall Street Journal, since September 2021, the agency has initiated an investigation into the operations of Uniswap Labs, especially regarding the functioning of the exchange without the need for intermediaries.
Information about law enforcement actions against Uniswap comes amid the SECâs increasing focus on controlling cryptocurrency activities, especially with major companies like Coinbase, Ripple, and Binance.
