Uniswap Labs Hit with Wells Notice by SEC: Vows to Fight Back
Uniswap Labs, the creator of the Uniswap decentralized exchange (DEX) protocol and the issuer of the UNI token, was hit on Wednesday with a Wells notice by the US Securities and Exchange Commission (SEC) and vowed to fight back.
A Wells notice is a notification from regulators to an individual or company that an investigation on them has been completed, infractions have been discovered, and they are about to take legal action.
News first broke that the SEC was investigating Uniswap last summer.
Now that the Wells notice is here, Uniswap Labs is “ready to fight,” the DEX developer tweeted.
Despite SEC rhetoric that "most" tokens are securities, the reality is that tokens are just a digital file format
The vast majority of tokens traded on Uniswap are definitively not securities, just like most paper is not stock certificates
They are stablecoins, community…
— Uniswap Labs
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