Uniswap Labs revealed today that the U.S. Securities and Exchange Commission had served it with a Wells Notice, indicating a potential incoming lawsuit. “This is the big one folks,” posted Bankless co-founder Ryan Adams on X. “Massive escalation by the SEC and whitehouse. Uniswap is a poster child for crypto decentralization - instead of celebrating Hayden Adams as a generational entrepreneur they're taking him to court. A war on crypto is a war on the internet.
While the SEC has had some cases involving decentralized organizations, this is the first time it has gone after a major protocol. Many in the crypto industry expressed support for Uniswap and its founder, Hayden Adams. A common theme was the industry’s dislike of SEC Chair Gary Gensler. Some expressed strong support for Uniswap Labs in the case of a potential trial. "I'm sorry you have to fight this battle on behalf of everyone in DeFi, but I couldn't possibly have more confidence in you and your team to prevail," said Jake Chervinsky, chief legal officer at Variant Fund, in a reply to Adams on X.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. SEC Issues Wells Notice to Decentralized Exchange UniswapThe United States Securities and Exchange Commission (SEC) has issued a Wells notice to the decentralized exchange Uniswap, giving the company an opportunity to respond before enforcement action is recommended.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »