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SEC sends Uniswap a Wells notice
The SEC has served a Wells notice on Uniswap Labs, and the DeFi giant vows to defend the project. Find out more about the crypto community's reaction.
SEC sends Uniswap a Wells notice
The US Securities and Exchange Commission (SEC) has served a Wells notice on Uniswap Labs following a three-year investigation. Uniswap founder Hayden Adams has said he will fight for the project because he believes the protocol performs better than the SEC. The crypto community has signaled support for Uniswap following the SEC's Wells announcement.
Uniswap publicly responded to the announcement made by the SEC as a move against the largest decentralized exchange. A Wells Notice is sent by the SEC to announce possible legal action based on investigation findings. Uniswap had already responded to regulatory pressure in the past and removed some tokens from the platform.
The subCONFIRM community within the crypto community shows solidarity with Uniswap and expects the DeFi project to successfully take action against the SEC. Statements of support came from Dan Robinson of Paradigm Investment and other prominent figures in the crypto market.
Reactions to the public dispute between Uniswap and the SEC have been mixed. While some, like former SEC official John Reed Stark, see Uniswap's criticism as misplaced, others believe the DeFi giant may be in the right. The coming weeks will be crucial for Uniswap and the entire crypto market as the dispute with the SEC continues and the Bitcoin halving looms.