Breaking: US SEC is Reportedly Investigating Uniswap Labs
The US Securities and Exchange Commission (SEC) is reportedly investigating Uniswap Labs, the company behind the popular Decentralized Exchange (DEX) protocol Uniswap. As per a report in the Wall Street Journal, people familiar with the matter revealed that the SEC is looking into user history and how the platform is being used by investors.
The investigation is currently in the very early stage, this doesn’t necessarily end up in serious allegations of wrongdoings. However, the reported investigation comes just days after SEC signed a deal with a blockchain analytic firm to help them investigate the diverse Defi ecosystem. SEC chief Gary Gensler has reinstated the need to regulate the Defi market in his past interviews.
Uniswap is the leading DEX protocol accounting for over a billion dollars in daily trading volume, and SEC’s interest in the largest Dex platform indicates the growing scrutiny towards the Defi market. Gensler had said that no matter how decentralized these Defi platforms claim to be since they offer valuable tokens as rewards they might fall under the overwatch of the SEC.
This story is being updatedSource