SEC Plans to Sue Uniswap

Yesterday, Hayden Adams, the founder of Uniswap, stated that the U.S. Securities and Exchange Commission (SEC) intends to file a lawsuit against the company.

The SEC has issued a so-called "Wells Notice," a warning sent to companies before the start of official legal proceedings, offering a last chance to refute any allegations.

"I am not surprised. Just frustrated, disappointed, and ready to fight. I am confident that the products we offer are legal and that our work is on the right side of history... Instead of working on creating clear, reasoned rules, the SEC has decided to focus on attacking long-standing good players such as Uniswap and Coinbase," claims Adams.

The specific reason for the SEC’s accusations against Uniswap remains unclear. However, based on recent lawsuits filed by the Commission against other well-known cryptocurrency companies like Coinbase, it is likely that the SEC will allege that Uniswap illegally offered unregistered securities or failed to register as a broker/exchange.

Currently, the price of $UNI is $9.08.