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SEC FILES LAWSUIT AGAINST UNISWAP

Joshua Ramos
April 10, 2024

Source: uniswap.org

The US Securities and Exchange Commission (SEC) has officially filed a lawsuit
against the decentralized cryptocurrency exchange Uniswap. Indeed, the agency
issued a Wells Notice to the company on Wednesday to notify the business of the
impending legal action planned against it.

In a response to the notice, Unisawp founder Hayden Adams said he was “not
surprised, just disappointed” in a post to X (formerly Twitter). Moreover, Adams
said that he was “ready to fight” while expressing his confidence in the
legality of the DeFi platform, which has long been on the SEC’s radar.



Also Read: Uniswap Price Rallies Past $10 as Bitcoin Minetrix ICO Exceeds
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SEC ISSUES WELLS NOTICE TO UNISWAP

The digital asset market has continued its rather contentious relationship with
the SEC into 2024. Although the agency did approve Spot Bitcoin ETFs into the
new year, it did not do so willingly. Moreover, it has sought legal action to
continue to assert regulatory clarity through enforcement.

Now, the SEC has filed a lawsuit against the decentralized cryptocurrency
exchange Uniswap. Specifically, the company’s founder had verified the legal
action through a post confirming their reception of a Wells Notice. The process
is typically issued to provide a chance for companies that seek to rebut
accusations. However, this occurrence is likely a formality.

Adams took to X to share his perspective while addressing the consistent actions
taken by the SEC. Specifically, he noted that the agency has little interest in
“working to create clear, informed rules” and instead goes after exchange
platforms that operate in good faith, like Uniswap or Coinbase, “all while
letting bad actors like FTX slip by.”



Also Read: Ripple: Will the SEC’s $2 Billion Demand Trigger a Mass Exodus for
XRP?



Uniswap is the latest in a plethora of high-profile lawsuits from the SEC to
cryptocurrency platforms. Indeed, the DeFi exchange joins Ripple Labs and
Coinbase as some of the larger cases that are currently ongoing.

Conversely, Adams stated that the case would “take years” and could be tried at
the Supreme Court level. However, he also assured that “freedom is worth
fighting for. I think DeFi is worth fighting for.”

 * sec
 * UniSwap

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Disclaimer: Our articles are NOT financial advice, we are not financial
advisors. All investments are your own decisions. Please conduct your own
research and seek advice from a licensed financial advisor.


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