The Securities and Exchange Commission (SEC) of the United States has lately made news for its nine-month legal battle with Ripple, but it has also demonstrated that it has begun an investigation into Uniswap, the world’s largest decentralized exchange.
In a recent Wall Street Journal article, it was reported that the US regulator is looking into Uniswap Labs, the company that developed the Uniswap DEX trading platform. Following the report’s publication, the enforcement attorneys sought information on Uniswap, including information about its investors and marketing services.
In an interview with the media, a spokesperson for Uniswap Labs stated that the firm is dedicated to adhering to the rules and regulations that have been established for the cryptocurrency industry thus far.
This entails supplying Regulators with information that will aid them in their investigation. At this moment, the Securities and Exchange Commission has opted not to comment on the investigation. Indeed, they made no judgment on the likelihood that the probe would be conducted or if it would be conducted.
The Securities and Exchange Commission is taking regulatory action for DeFi
The announcement of Uniswap (UNI/USD) as the newest SEC target comes at a time when US officials are concentrating their efforts on DeFi. The SEC’s President, Gary Gensler, previously stated that the regulator intends to propose new regulations about crypto, including those relating to the decentralized financial infrastructure (DeFi), stablecoins, and initial public offerings (IPOs).
AnChain.AI, one of the major analytics blockchain startups, agreed to a $125,000 agreement with the regulator last month, according to public records. The business will provide the regulator with technical assistance to monitor and properly manage the DeFi industry.
Uniswap appears to have taken a close look at the regulation some time ago, as seen by the delisting of hundreds of tokens and tokenized shares. This was around the time when Binance began threatening authorities across the world with legal action if they did not provide tokenized inventory goods without the appropriate authorization.
Uniswap subsequently stated that it had no choice but to do so due to regulatory pressures, underlining that it is continuously monitoring the developing regulatory environment for any changes.