DeFi exchange Uniswap responded to SEC enforcement (a.k.a Wells notice) notice for Operating as Unregistered Securities Broker and Unregistered Securities Exchange

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Name

DeFi exchange Uniswap responded to SEC enforcement (a.k.a Wells notice) notice for Operating as Unregistered Securities Broker and Unregistered Securities Exchange

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05

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21

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2024

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12

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00

am

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Based upon Uniswap response to SEC enforcement notice it appears that SEC alleges that Uniswap's native Uni and liquidity provider LP tokens are securities

Uniswap hinted that if Financial Innovation and Technology for the 21st Century Act ( FIT21) becomes law, SEC enforcement notice could become irrelevant as Commodity Futures Trading Commission (CFTC) would regulate crypto

In it's response to SEC in regards to enforcement notice (Wells notice) for Operating as Unregistered Securities Exchange and Broker Uniswap claims that it created a technology (protocol) that people use to trade cryptocurrencies, therefore Uniswap does not operate as a securities exchange

In it's response to SEC in regards to enforcement notice (Wells notice) for Operating as Unregistered Securities Exchange and Broker Uniswap claims that under current definition of an Exchange, it has to be specifically designed for securities trading and in Uniswap case, the majority of volume are obvious non-securities like Ethereum, Bitcoin and stablecoins

Uniswap’s Chief Legal Officer Martin Ammori claimed that SEC’s accusation that Uniswap interface and wallet are brokers will fail pointing to a recent ruling from a federal judge dismissing the SEC’s claims that the Coinbase Wallet was an unregistered securities broker

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