Key insights from the news event "The issuance of a Wells notice to Uniswap signals possible forthcoming SEC enforcement"
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Marvin Ammori, Chief Legal Officer of Uniswap Labs, asserts that neither the Uniswap Protocol, its web app, nor its wallet align with the regulatory definitions of a securities exchange or broker.
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A potential enforcement action against Uniswap is part of a broader SEC initiative to regulate the crypto industry, which has included actions against major companies like Coinbase, Ripple, and Binance over the last year.
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On Wednesday, April 10, 2024, Uniswap Labs, responsible for the Ethereum decentralized exchange (DEX), disclosed receiving a Wells notice from the United States Securities and Exchange Commission (SEC). This notice forewarns of a forthcoming lawsuit concerning securities allegations.
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