US SEC finds a new target to investigate — Uniswap (UNI)

  • US SEC seems to have started focusing on the DeFi sector more than ever.
  • According to recent rumors, the regulator is now looking into Ethereum’s largest DEX, Uniswap.
  • The increased attention comes two months after Uniswap itself delisted dozens of coins.

The US SEC (Securities and Exchange Commission) has been making the news recently due to its 9-month long legal battle with Ripple, but as it turns out, the regulator has also started looking into Uniswap, the world’s largest decentralized exchange.

According to a recent Wall Street Journal report, the US regulator is actually looking into the startup that launched Uniswap DEX — Uniswap Labs. According to the report, enforcement attorneys are seeking information about Uniswap, including its investor and marketing services.

Uniswap Labs’ spokesperson supposedly mentioned that the company is committed to complying with the laws and regulations that the crypto industry has received so far.

That includes providing the regulators with the information that will assist their investigation. The SEC decided not to give any comments regarding the investigation at this time. In fact, they did not even offer comments regarding the potential existence or non-existence of the investigation.

The SEC moves to regulate DeFi

The news of Uniswap (UNI/USD) being the SEC’s next target came as the US regulators started paying close attention to the DeFi sector. Previously, the SEC chairman, Gary Gensler, announced last month the regulator’s plans to bring forth additional crypto-related rules, particularly the one that will focus on regulating the DeFi sector, stablecoins, and token offerings.

The regulator signed a $125,000 deal last month in a partnership with AnChain.AI, one of the biggest blockchain analytics firms. The company will provide the regulator with technological assistance in monitoring the DeFi sector, and bringing rules that will properly regulate it.

Uniswap itself seems to have felt the regulator’s eyes on itself some time ago, which led it to delist dozens of tokens, as well as tokenized stocks. This was around the same time when Binance started getting in trouble with regulators from all over the world for offering tokenized stock products without the necessary licenses.

Back then, Uniswap said that it felt obligated to do so due to the regulatory pressure, noting that it monitors the evolving regulatory landscape.

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