(Reuters) – The U.S. Securities and Trade Fee has notified of potential enforcement motion towards Labs, the lead developer behind one of many world’s largest cryptocurrency exchanges, the corporate mentioned in a weblog publish on Wednesday.
The rationale for the SEC’s warning towards Uniswap was not instantly clear from the weblog publish, however it could possibly be linked to the regulator’s marketing campaign to use US securities legislation to digital asset-related corporations corresponding to Coinbase (NASDAQ:
The SEC declined to touch upon the publish.
The SEC’s battle with Coinbase, the world’s largest publicly traded cryptocurrency alternate, facilities on one key debate: whether or not digital property are funding contracts just like shares or bonds that ought to be regulated by the SEC.
“Given the SEC’s ongoing lawsuits towards Coinbase and others, in addition to their utter unwillingness to offer a transparent image or path to registration for these working throughout the legislation within the US, we are able to solely conclude that that is the newest political efforts to focus on even the very best actors constructing applied sciences on blockchains,” the weblog publish mentioned.
Uniswap is a crypto marketplace for decentralized finance or DeFi builders, merchants and liquidity suppliers. DeFi is an open community and operates on a peer-to-peer system the place transactions are usually not routed by a centralized system corresponding to a financial institution or brokerage agency.
