Decentralized cryptocurrency alternate Uniswap mentioned it obtained a discover from the U.S. Securities and Alternate Fee (SEC) on Wednesday that it might pursue enforcement motion in opposition to it, the company said in a blogpost.
Uniswap is a leading decentralized cryptocurrency marketplace. The New York-based firm operates a peer-to-peer platform for customers who need to make transactions completely on blockchains.
The corporate didn’t say why it was being issued a Wells discover, which is commonly despatched by regulators to notify respondents of sure expenses. The transfer, nonetheless, may very well be tied to the company’s efforts to clamp down on corporations that use digital property, corresponding to Coinbase, the second largest crypto exchange.
The feud between the SEC and Coinbase is a main instance. In late March, the a decide ruled in favor of the agency in a lawsuit it introduced in opposition to Coinbase during which the SEC claimed the crypto alternate engaged within the sale of unregistered securities.
“Making an allowance for the SEC’s ongoing lawsuits in opposition to Coinbase and others in addition to their full unwillingness to supply readability or a path to registration to these working lawfully throughout the U.S., we will solely conclude that that is the newest political effort to focus on even the very best actors constructing expertise on blockchains,” Uniswap mentioned in its blogpost.
Within the meantime, the corporate mentioned that its whole suite of present merchandise will proceed to be out there. Furthermore, it can proceed to ship new merchandise.
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