Summary
The US SEC sent a Wells notice to Uniswap, a decentralized finance platform, which typically precedes an enforcement action. Uniswap CEO and Chief Legal Officer expressed frustration and confidence in the legality of their products. The SEC did not comment on the specifics of the claim. Uniswap executives believe in the power of blockchain technology and plan to fight the SEC’s actions. This comes after a similar notice was sent to Coinbase last year.
Key Points
1. The US Securities and Exchange Commission sent a Wells notice to decentralized finance platform Uniswap, signaling a potential enforcement action.
2. Uniswap CEO Hayden Adams expressed annoyance and disappointment at the notice, stating confidence in the legality of the platform’s products.
3. Uniswap Chief Legal Officer Marvin Ammori criticized the SEC’s actions as an “abuse of power,” with the company’s executives not specifying the alleged wrongdoing.