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SEC Moves To Sue Uniswap in Bid To Hobble Fast-Growing DeFi Sector

The Securities and Exchange Commission warned Uniswap on Wednesday that it intends to bring an enforcement action against the company, which is the leading platform for DeFi -- a segment of the crypto market where traders rely on computer protocols that act as automated market makers for exchanging ...

The Securities and Exchange Commission warned Uniswap on Wednesday that it intends to bring an enforcement action against the company, which is the leading platform for DeFi -- a segment of the crypto market where traders rely on computer protocols that act as automated market makers for exchanging various tokens. From a report: The warning came in the form of a so-called Wells Notice, which the SEC sends to a company prior to launching a formal lawsuit and which provides it a final opportunity to rebut any allegations. In this case, that process is likely to prove little more than a formality as the agency has reportedly been investigating Uniswap for some time, and is in the midst of a sweeping crackdown of the crypto industry.

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