SEC Issues Formal Enforcement Action Against Uniswap
The U.S. Securities and Exchange Commission has sent a Wells notice to Uniswap, signaling a major legal battle over the operation of its decentralized finance platform.
- Uniswap received a Wells notice from the SEC, indicating impending enforcement actions.
- The SEC's allegations may focus on Uniswap operating as an unregistered exchange and brokerage.
- Uniswap CEO Hayden Adams expressed readiness to contest the SEC's charges, potentially up to the Supreme Court.
- The legal challenges for Uniswap reflect a broader regulatory scrutiny on the crypto industry, particularly decentralized finance (DeFi) platforms.
- Market reactions saw Uniswap's native token, UNI, drop significantly in value following the announcement.