Marvin

Uniswap

<h4><strong>Uniswap Labs, the company behind Uniswap, has responded to the US SEC’s Wells notice. </strong><strong>The SEC had claimed that the Ethereum-based DEX operated as an unregistered exchange and securities broker-dealer. </strong></h4> 
<p>The notice further alleged that UNI tokens represented investment contracts. Let0s discover more about this important news for Uniswap.</p> 
<p>The SEC often <a href="https://www.altcoinbuzz.io/cryptocurrency-news/sec-targets-robinhood-for-regulatory-breaches/" target="_blank" rel="noopener">issues</a> a Wells notice to individuals or companies it believes violate US laws and could face enforcement action. In response to the SEC’s notice, Uniswap Labs noted that the SEC’s “aggressive theories” aim to extend the regulator’s jurisdiction outside the scope of its authority.</p> 
<p>According to a <a href="https://blog.uniswap.org/the-fight-for-defi-continues" target="_blank" rel="noopener">blog post</a>, the company also expressed confidence that the House will approve a measure granting the Commodity Futures Trading Commission (CFTC) control over the trading of digital assets.</p> 
<p><img decoding="async" class="wp-image-141240 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-labs-SEC.jpg" alt="" width="531" height="464" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-labs-SEC.jpg 888w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-labs-SEC-300x262.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-labs-SEC-768x671.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-labs-SEC-481x420.jpg 481w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-labs-SEC-696x608.jpg 696w" sizes="(max-width: 531px) 100vw, 531px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/Uniswap/status/1792973632588677509" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Uniswap Labs urged the regulator to “embrace open-source technology that improves outdated commercial and financial systems, instead of attempting to litigate it out of existence.”</p> 
<p>The crypto company added: “We’re confident that our work is on the right side of history. The SEC should not devote its taxpayer-funded resources to bringing a case against us.”</p> 
<h5><strong>Confident Against SEC’s Arguments&nbsp;</strong></h5> 
<p>Uniswap said in a Tuesday <a href="https://blog.uniswap.org/the-fight-for-defi-continues" target="_blank" rel="noopener">blog post</a> that the SEC had presented “weak” rationales for sending the exchange a Wells notice. The company further noted that it was “ready to fight” the issue in court if needed.</p> 
<p><img decoding="async" class="wp-image-141241 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-.png" alt="" width="497" height="425" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap-.png 889w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap--300x256.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap--768x657.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap--491x420.png 491w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Uniswap--696x595.png 696w" sizes="(max-width: 497px) 100vw, 497px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/ammori/status/1792973078089093300" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Uniswap also claimed that its attorneys had successfully defended companies against the SEC, such as Ripple and Grayscale. Uniswap’s Chief Legal Officer, Marvin Ammori, remarked that since the SEC treats all tokens as securities, their argument is “weak and wrong.”</p> 
<p>“The SEC arguments rest on the false assumption that just about ‘all’ tokens are securities (which the SEC then refuses to register). But a token is merely a file format – like a PDF or JPEG. Tokens can represent any value, and overwhelmingly represent commodities (BTC, ETH, stablecoins) and memes, and access to useful networks. PDFs are not inherently stock certificates, and tokens are not inherently securities,” Amorim argued.</p> 
<p>Ammori further stated that the SEC’s charge that Uniswap’s wallet and interface function as brokers will be unsuccessful. He cited a previous federal court decision that rejected the SEC’s argument that the Coinbase Wallet amounts to an unregistered securities broker.</p> 
<p><img decoding="async" class="wp-image-141242 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Wells-notice.png" alt="" width="524" height="449" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Wells-notice.png 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Wells-notice-300x257.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Wells-notice-768x659.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Wells-notice-490x420.png 490w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/Wells-notice-696x597.png 696w" sizes="(max-width: 524px) 100vw, 524px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/haydenzadams/status/1778126466984575166" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Uniswap believes any legal action from the SEC against its operations would require the regulator to exceed its jurisdiction. The company’s attorneys warned that suing Uniswap would deter “future innovators from attempting to foster new ideas that bring much-needed competition and innovation to financial and commercial markets.” It would also force American cryptocurrency investors to adopt foreign trading platforms.</p> 
<p>Interestingly, Uniswap witnessed trading activity of about $3 trillion in the days after receiving the SEC’s notice.</p> 
<p><img decoding="async" class="alignnone size-full wp-image-123700" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" alt="" width="1197" height="148" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" sizes="(max-width: 1197px) 100vw, 1197px"></p> 
<p><iframe title="This Undervalued DePIN Altcoin Will Shock Crypto Markets" width="696" height="392" src="https://www.youtube.com/embed/mvpD8FNnK60?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/uniswap-labs-ready-to-fight-us-sec-in-court/">Uniswap Labs “Ready to Fight” US SEC in Court</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Uniswap Labs “Ready to Fight” US SEC in Court

Altcoin Buzz

Other articles published on May 22, 2024

Ethereum (ETH) Skyrockets in Large Transactions as Whales Awaken

99Bitcoins Token ICO Blasts Past $1.5m For Crypto’s First Learn To Earn BRC-20 Token

Is It Too Late To Buy GALA? Gala Price Roars Back With 18% Pump And This Casino Token Might Be Th...

Altcoins That Could Outperform Bitcoin in 2024

Top Crypto Gainers Today May 22 – Gala, Holo, Harmony, Ronin

Attention Altcoin Investors: The Former Team Member Who Was Successful in Finding the Tops Starte...

Join our free newsletter for daily crypto updates!