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SEC has started an investigation into Uniswap

sec-has-started-an-investigation-into-uniswap

According to reports from Wall Street Journal, the U.S. Securities and Exchange Commission is investigating Uniswap Labs, the creators of the world’s largest decentralized cryptocurrency exchange, Uniswap. 

The regulator is seeking information about Uniswap’s marketing 

The Wall Street Journal reported that the U.S. Securities and Exchange Commission had opened an investigation into Uniswap’s lead developer, Uniswap Labs. Citing anonymous sources familiar with the matter, the regulator is seeking information about Uniswap’s marketing and investor servicing. 

A spokesperson for Uniswap Labs asserted that the company is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.” 

According to the report, the investigation appears to be at an early stage and may not result in a formal charge of wrongdoing. 

The investigation comes after partnership AnChain.AI

It’s worth noting that SEC’s actions came after it partnered with AnChain.AI – a blockchain analytics company, to improve oversight of DeFi.  Also, the chairman of SEC Gary Gensler said earlier that some DeFi projects fall under the jurisdiction of the regulator. It appears that this is the case with Uniswap.

Uniswap is a decentralized exchange that allows users to swap between Ethereum-based coins and tokens without a centralized entity. Uniswap its token $UNI has fallen 5% in the last hour after the WSJ report was published.

This story is in development and could be updated.

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