Uniswap Labs Confirms SEC Wells Notice: Bloomberg Coin Edition

Gensler has previously contended that such platforms, including Uniswap, do not truly operate in a decentralized manner, positioning them within the SECs regulatory purview. This suggests that the SEC may allege that the DEX sold unregistered securities, paralleling cases brought against centralized exchanges like Coinbase and Binance.

Marvin Ammori, Chief Legal Officer at Uniswap, conveyed the companys readiness to confront the potential lawsuit, adding that the firm perceives it as regulatory overreach. “Uniswap Labs is prepared to fight against this abuse,” said Ammori while expressing confidence in a favorable outcome.

“If the SEC had authority over our self-custodial, non-intermediated products, it could tell us how to register them. It can‘t, and so it doesn’t. It has provided no clarity and no guidance – as several SEC commissioners have stated in multiple dissents,” said Ammori.

Uniswaps native token, UNI, experienced an immediate decline of approximately 16%, as per the data from CoinMarketCap. As of 1:15 a.m. ET Thursday, the digital asset is priced at $9.45 with a market capitalization of $5.65 billion.