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September 3, 2021

Uniswap Labs Under SEC Investigation

The Big Picture

Uniswap Labs, the startup behind the decentralized exchange Uniswap, is reportedly under investigation by the U.S. Securities and Exchange Commission.

According to the Wall Street Journal report, enforcement attorneys are said to be seeking information about how investors use Uniswap and how it is marketed.

What Led To This

SEC Chairman Gary Gensler already spoke about regulating various DeFi protocols. During that time he singled out protocols that reward users with tokens in exchange for certain activities.

A Uniswap Labs spokesperson stated that the startup is committed to complying with any laws and regulations and to providing regulators with information that will assist them with any inquiry.

Going Forward

The WSJ is citing "people familiar with the matter" and the investigation seems to be at a very early stage meaning that it may not result in any formal allegations of wrongdoing, according to the report.

Source: Wall Street Journal

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