CryptoNews

Uniswap Labs Receives SEC Wells Notice, Founder Vows to Fight

In a recent social media post, Hayden Adams, the founder of Uniswap Labs, announced that the company has received a Wells notice from the Securities and Exchange Commission (SEC), expressing his disappointment and determination to contest the notice.

SEC Sends Decentralized Exchange Uniswap a Wells Notice

Hayden Adams, the founder behind the decentralized finance (defi) platform Uniswap, shared his reactions to receiving a Wells notice from the SEC, a formal indication that the agency is considering enforcement action. In his social media post, Adams conveyed feelings of annoyance and disappointment but remained steadfast in his belief in the legality of Uniswap’s offerings.

He criticized the SEC’s approach towards established players in the defi space, like Uniswap and Coinbase, while allegedly allowing malpractices by others to go unchecked. “It’s been clear for a while that rather than working to create clear, informed rules, the SEC has decided to focus on attacking long-time good actors,” Adams stated.

Reflecting on the journey of Uniswap, Adams recounted the platform’s origins as an experimental venture into radically decentralized, automated on-chain markets. From uncertain beginnings, Uniswap has grown into a pivotal part of the defi ecosystem, processing over $2 trillion in volume and serving as a foundation for thousands of developers and teams.

He highlighted Uniswap’s contributions towards creating a financial infrastructure that is transparent, fair, secure, and accessible. This growth and innovation have all been achieved within the United States, showcasing the team’s commitment to contributing to the blockchain technology landscape from their New York City base.

Adams stressed that he used his platform to underscore his belief in blockchain’s transformative potential and its permanence in the technology sector. He positioned Uniswap as a force for good, aligning with and exceeding the SEC’s own mission to protect investors and maintain efficient markets.

Despite the looming legal battle, which could potentially escalate to the Supreme Court, Adams remains optimistic about the future of defi and Uniswap’s role in it. He concluded with a rallying cry for unity and perseverance in the face of regulatory challenges, emphasizing, “If we stand together we can win. I think freedom is worth fighting for. I think defi is worth fighting for.”

Source: Bitcoin

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