SEC Officially Sends Statement of Intent to Sue UniswapUniswap founder Hayden Adams announced on
SEC Officially Sends Statement of Intent to Sue Uniswap
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Home > News
Published: 11/04/2024
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Author: Leexim
SEC Officially Sends Statement of Intent to Sue Uniswap
Uniswap founder Hayden Adams announced on Wednesday that the SEC had sent a Wells notice to Uniswap Labs, requesting compliance with law enforcement.
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The SEC has sent a Wells notice to Uniswap Labs, declaring their intention to enforce the law.
Hayden Adams, the founder of Uniswap, stated: “I’m not surprised. I just feel uncomfortable and disappointed, but we’re ready to face the challenge. I believe that the products we provide are legal and we are doing the right thing historically.”
Adams also expressed dissatisfaction with the SEC focusing on dealing with companies like Uniswap and Coinbase instead of addressing cases like FTX.
The SEC has been investigating Uniswap for a long time. According to the Wall Street Journal, since September 2021, the agency has initiated an investigation into the operations of Uniswap Labs, especially regarding the functioning of the exchange without the need for intermediaries.
Information about law enforcement actions against Uniswap comes amid the SEC’s increasing focus on controlling cryptocurrency activities, especially with major companies like Coinbase, Ripple, and Binance.
Related: TRON Foundation Asserts Strongly Against SEC Lawsuit
The Ethereum Foundation, a support organization for the Ethereum network, recently disclosed that they have been “voluntarily requested to participate in an investigation by government agencies,” but did not specify the status of that investigation. Some other cryptocurrency companies have also faced legal accountability related to their transactions with the Ethereum Foundation.
Marvin Ammori, Legal Director of Uniswap Labs, described the SEC’s warning about law enforcement as “another abuse of power” and deemed the Wells notice “regrettable, but not surprising.” He also emphasized that Uniswap’s products comply with U.S. law and seek cooperation with reasonable regulations for cryptocurrencies, rather than continuing the abuse of power. Uniswap Labs is prepared to fight against this abuse and believes they will prevail.
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#SEC vs Uniswap
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Anonymous
11/04/2024 at 5:53 am
Aweasome
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Avatar of MindUrOwnBiz
MindUrOwnBiz
11/04/2024 at 7:04 am
Grow up, SEC.
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Avatar of Canice Chizoba Ifedioranma
Canice Chizoba Ifedioranma
11/04/2024 at 7:08 am
Sec will not succeed on this. Stand firm as far as you know you products
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