The SEC Plans to Sue Uniswap

Today, the U.S. Securities and Exchange Commission (SEC) delivered a Wells Notice to Uniswap Labs, indicating the federal watchdog plans to sue the pioneers behind DeFi’s most popular decentralized exchange. 

What’s the scoop?

Bankless Take:

Gary Gensler’s SEC approaches all tokens as if they were securities, regardless of how this position has been repeatedly struck down in U.S. courts. This Wells Notice is the latest indication of the current Commission’s blanket approach to attacking DeFi projects on these grounds in bad faith. 

Yet if anyone is ready for this fight, it’s the Uniswap team, and they’ll have an army of supporters at their backs the whole way. Watch out, then, because arguably the biggest legal battle in crypto history is about to unfold!