Uniswap Labs (the operator of one the most popular DeFi platform) could be facing action by the US Securities and Exchange Commission.
The company reported on 10 April that it received a Wells notification from the SEC. The notice states that the regulator will be recommending legal action.
Uniswap stated that it will offer its current products for the time being and is confident that they are legal. Uniswap has a wide range of crypto products and service, including a DEX or token exchange, a wallet for mobile devices, and liquidity pools that generate profits.
Uniswap also criticized the SEC’s intentions on political grounds, calling the notice the “latest political effort to target even the best actors” in the blockchain sector.
Uniswap Plans To Fight
Uniswap announced that it would fight the lawsuit. The project outlined several legal points that it could use to defend itself.
First, Uniswap claimed that Congress lacks authority to regulate secondary market transactions including those on its platform.
Uniswap cited an earlier SEC case against Ripple in which courts found that exchange-sales of XRP are not securities. Uniswap…
