What’s Going On With Uniswap And The S.E.C? Here’s What You Need To Know

The S.E.C. appears to be overreaching yet again.

In the latest bid of big government vs the people, The Securities and Exchange Commission has targeted the world’s largest decentralized crypto exchange: Uniswap.

The S.E.C. claims that it is investigating Uniswap’s developer Uniswap Labs over marketing concerns.

An investigation into Uniswap labs comes at the same time The S.E.C. is simultaneously locked in a brutal legal battle with Ripple. 

Many are decrying the move, and rightly so:

Dear SEC,

Uniswap provided more stimulus to its users via airdrop than the US government provided to its citizens, and did so without taxes, debt, or cutting down trees for checks.

Maybe give them a pat on the back rather than an investigation that will cost them millions?

— Erik Voorhees (@ErikVoorhees) September 3, 2021

SEC investigating Uniswap.

One of the most innovative and empowering tech projects to come out of an American team in the last decade.

The U.S. should be given Hayden a medal. Instead he's getting an investigation.

We live in a financial prison.

— RYAN SΞAN ADAMS – rsa.eth 🦇🔊🏴 (@RyanSAdams) September 3, 2021

The Wall Street Journal reports:

The Securities and Exchange Commission is investigating the startup behind one of the biggest cryptocurrency exchanges, as regulators probe further into parts of the digital-asset market that have resisted oversight, according to people familiar with the matter.

Regulators are examining Uniswap Labs, the main developer of the world’s largest decentralized exchange, called Uniswap, the people said. Enforcement attorneys are seeking information about how investors use Uniswap and how it is marketed, the people said.

Good reminder of what we are actually fighting for. Will do everything in my power to protect the Uniswap team! https://t.co/5rdwC9Zzpv

— Andre Cronje (@AndreCronjeTech) September 3, 2021

The attack on Uniswap Labs is an attack on all of us.

— banteg (@bantg) September 3, 2021

There is no universe in which SEC wouldn't investigate a profound innovation like Uniswap. That it finally occurred isn't interesting.

What's interesting is:

1) Whether SEC can form any legally-coherant allegations

2) Whether such allegations can affect the uniswap protocol.

— Erik Voorhees (@ErikVoorhees) September 3, 2021

Coin Telegraph explains:

A spokesperson for Uniswap Labs reportedly said the firm is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.”

Uniswap is a decentralized exchange that enables users to swap between Ethereum-based coins and tokens without a central entity. The exchange is ranked as the largest decentralized exchange, with a $1.5-billion trading volume over the past 24 hours at the time of writing, according to data from CoinMarketCap.

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