Uniswap responds to SEC Wells notice: ‘We are ready to fight’ for DeFi
The company called for supporting U.S. lawmakers in favor of the Financial Innovation and Technology for the 21st Century Act, hinting the bill could nullify the SEC’s case.
Uniswap Labs, the developer behind the decentralized exchange of the same name, has responded to the United States Securities and Exchange Commission (SEC) issuing a Wells notice to the firm, suggesting a potential enforcement action.
In a May 21 blog post, Uniswap claimed the SEC had made “weak” legal arguments in issuing a Wells notice to the exchange and vowed it was “ready to fight” the matter in court if necessary. The company said its lawyers had successfully represented firms, including Grayscale and Ripple, against the financial regulator. Chief Legal Officer Marvin Ammori claimed that the SEC’s case was “weak and wrong” based on treating all tokens as securities under its purview.
“The SEC should not devote its taxpayer-funded resources to bringing a case against us,” said Uniswap. “But we’re prepared to fight.”
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Author: Turner Wright
