SEC reportedly investigates decentralized exchange Uniswap

SEC reportedly investigates decentralized exchange Uniswap

The United States Securities and Exchange Commission (SEC) is reportedly investigating the startup behind the world's largest decentralized cryptocurrency exchange, Uniswap.

The U.S. securities regulator has initiated a probe into Uniswap’s main developer, Uniswap Labs, the Wall Street Journal reported Sept. 3.

The report says that enforcement attorneys are now looking for information about Uniswap’s marketing and investor services, citing anonymous sources familiar with the matter.

A spokesperson for Uniswap Labs reportedly said the firm is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.”

Uniswap is a decentralized exchange that enables users to swap between Ethereum-based coins and tokens without a central entity. The exchange is ranked as the largest decentralized exchange, with a $1.5 million trading volume over the past 24 hours at the time of writing, according to data from CoinMarketCap.

This article is developing and will be updated.

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