Uniswap Challenges SEC's Authority in Response to Wells Notice

The decentralized finance platform argues that its protocol and tokens do not fall under the SEC's regulatory scope, urging the commission to reconsider its stance.

Uniswap Labs contends that its protocol is a general-purpose technology, not a securities exchange.
The company asserts that the SEC lacks jurisdiction over cryptocurrencies like ether, bitcoin, and stablecoins.
Uniswap warns that SEC action could drive American users to foreign trading platforms and stifle innovation.
The response follows similar regulatory challenges from other crypto firms like Consensys and Robinhood.
Uniswap's legal team emphasizes that Congressional intervention is needed for clear crypto regulation.