DeFi Exchange Creator Uniswap Labs Says SEC Warns of Lawsuit (1)

Uniswap Labs, the creator of the largest decentralized trading platform on Ethereum, said the US Securities and Exchange Commission has warned that it faces a potential enforcement action for operating as an unregistered exchange and broker dealer.

The SEC’s Enforcement Division served Uniswap with a Wells Notice, notifying the company that it plans to recommend a legal action against it, the firm said in a blog statement. A representative for the SEC declined to comment.

Chairman Gary Gensler has long said that decentralized crypto exchanges aren’t really decentralized and fall under its purview. The claims that Uniswap is ...