SEC Moves To Sue Uniswap in Bid To Hobble Fast-Growing DeFi Sector

The Securities and Exchange Commission warned Uniswap on Wednesday that it intends to bring an enforcement action against the company, which is the leading platform for DeFi -- a segment of the crypto market where traders rely on computer protocols that act as automated market makers for exchanging various tokens. From a report: The warning came in the form of a so-called Wells Notice, which the SEC sends to a company prior to launching a formal lawsuit and which provides it a final opportunity to rebut any allegations. In this case, that process is likely to prove little more than a formality as the agency has reportedly been investigating Uniswap for some time, and is in the midst of a sweeping crackdown of the crypto industry.

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