BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Uniswap Fires Back at SEC’s Wells Notice, Calls Out ‘Weak’ Legal Arguments

by Dan K
May 22, 2024 - 4:00 pm
in Blockchain
Uniswap price chart displaying breakout from inverse head-and-shoulders pattern with bullish momentum indicators

Uniswap Fires Back at SEC’s Wells Notice, Calls Out ‘Weak’ Legal Arguments

Uniswap Labs filed a 40-page response on Tuesday to the SEC’s Wells Notice, arguing against a potential lawsuit and urging the agency to drop the matter.

It comes after the agency raised concerns a few weeks ago that Uniswap’s operations might violate US securities laws. The decentralized crypto exchange is now explaining in detail why the SEC could be wrong.

Uniswap serves as a decentralized finance (DeFi) platform catering to developers, traders, and liquidity providers. But the SEC claimed that Them Protocol operates as an unregistered securities exchange under Them Labs’ control, while labeling the them interface as an unregistered securities broker-dealer, and the UNI token as an investment contract.

SEC Should Not Waste Taxpayer Money on This Case: Uniswap

Uniswap hit back, stating that the SEC’s legal assertions are “weak” and have been contradicted by court rulings.

The crypto marketplace argued that the agency is stretching the definitions of securities, exchanges, and contracts to an unreasonable point. It also said the SEC’s accusations hinge on the idea that any value stored in a digital format can be considered a security.

“We’re confident that our work is on the right side of history,” Them said. “The SEC should not devote its taxpayer-funded resources to bringing a case against us.”

Most Users Outside SEC’s Jurisdiction, Uniswap Claims

Uniswap argued that most trading on its platform doesn’t involve securities, even by the SEC’s own standards. It pointed out that a large portion (65%) of its trading volume involves assets the SEC itself has admitted aren’t securities, like Ether, wrapped Bitcoin, and stablecoins.

Additionally, the protocol argued that US securities laws wouldn’t apply to most users since it estimates 75% of them are from outside the US.

The marketplace said that even if a few security-like transactions took place on its platform, it isn’t a securities exchange. It said a court wouldn’t see it that way because the platform wasn’t built specifically for those transactions.

SEC’s Broader Crackdown on DeFi

The federal regulator has aggressively sent Wells notices, filed lawsuits, and settled with numerous crypto companies. Its focus is shifting towards Ethereum and DeFi (Decentralized Finance) players, with ShapeShift, TradeStation, Uniswap, Consensys all facing legal action. The Ethereum Foundation is also reportedly under investigation.

Tags: BlockchainSECUniswap
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service