Uniswap Labs receives a Wells Notice from the SEC for operating as an unregistered exchange and broker dealer.
Uniswap Labs, the company behind the largest decentralized exchange on Ethereum, has been served with a Wells Notice by the US Securities and Exchange Commission (SEC), warning of potential enforcement action for operating as an unregistered exchange and broker dealer. The SEC claims that decentralized crypto exchanges like Uniswap fall under its jurisdiction, similar to cases brought against centralized exchanges Coinbase and Binance last year. Uniswap's UNI token fell around 11% to $10 following the news.
April 10, 2024
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