SEC warns Uniswap Labs of possible enforcement action by Reuters


(Reuters) – The U.S. Securities and Exchange Commission has advised of possible enforcement actions against Labs, the lead developer behind one of the world's largest cryptocurrency exchanges, the company said in a blog post on Wednesday.

The reason for the SEC's warning about Uniswap was not immediately clear from the blog post, but may be linked to the regulator's campaign to apply U.S. securities law to digital asset-related companies such as Coinbase (NASDAQ:).

The SEC declined to comment on the post.

The SEC's battle with Coinbase, the world's largest publicly traded cryptocurrency exchange, is based on a core debate: whether digital assets are investment contracts similar to stocks or bonds that should be regulated by the SEC.

© Reuters.  FILE PHOTO: U.S. Securities and Exchange Commission logo and representation of cryptocurrency Bitcoin in this illustration taken January 11, 2024. REUTERS/Dado Ruvic/Illustration/File photo

“Considering the SEC’s ongoing lawsuits against Coinbase and others, as well as its complete refusal to provide clarity or a path to registration for those legally operating in the US, we can only conclude that this is the latest political effort “is to target even the best players who are building technology on blockchains,” the blog post says.

Uniswap is a crypto marketplace for decentralized finance or DeFi developers, traders and liquidity providers. DeFi is an open network and operates on a peer-to-peer system where transactions are not routed through a central system such as a bank or broker.


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