THELOGICALINDIAN - The UNI badge has reacted abnormally to the news
The U.S. Securities and Barter Commission (SEC) is reportedly investigating Uniswap Labs, the developer abaft the better decentralized barter Uniswap.
Uniswap Under Investigation
DeFi behemothic Uniswap Labs will face an analysis from the U.S. Securities and Exchange Commission, according to a report appear by the Wall Street Journal Friday morning.
Anonymous sources appear that SEC attorneys are gluttonous advice about how investors use Uniswap and how the barter is marketed.
In response, a adumbrative from Uniswap Labs told the Wall Street Journal:
“[Uniswap is] committed to acknowledging with the laws and regulations administering our industry and to accouterment advice to regulators that will abetment them with any inquiry.”
The exchange’s babyminding token, UNI, has reacted abnormally to the news, bottomward over 6% so far. However, the analysis of Uniswap Labs appears to be in its aboriginal stages and may not aftermath any academic allegations of wrongdoing.
SEC armchair Gary Gensler has frequently accurate apropos over the abridgement of adjustment in decentralized accounts back he was appointed arch of the alignment in April.
Previously, Gensler commented on the annoying trend of “gamification” in investing, citation apps like Robinhood as fueling the “meme stock” abnormality beforehand this year. As board are reportedly absorbed in how Uniswap is marketed, Gensler may additionally be abutting the affair from a gamification perspective.
Earlier this week, Gensler reiterated his attitude on DeFi protocols, asserting that abounding allegedly decentralized platforms accept “a fair bulk of centralization,” citation babyminding mechanisms, fee models, and allurement systems.
The SEC accept become more complex in acclimation the crypto space. Following developments in the regulator’s advancing case adjoin Ripple, the SEC has additionally sued BitConnect architect Satish Kumbhani in a new acknowledged bushing this week.
Uniswap Labs has not been abandoned in the face of ascent authoritative pressure. In July, the barter delisted over 100 tokens, adopting questions over the platform’s decentralization. Many of the delisted tokens were constructed assets or tokenized stocks, instruments with a aerial accident of actuality classified as balance by the SEC.
Uniswap has developed exponentially back its V1 absolution in November 2018. In August the agreement facilitated over $53 billion in trading volume, with users locking in $5.2 billion account of assets to accommodate liquidity.
Disclaimer: At the time of autograph this feature, the columnist endemic BTC, ETH, and several added cryptocurrencies.
