Uniswap CEO Slams SEC for 'Enforcement Actions' Against Legitimate Crypto Companies

IconCryptoNewsTerminal Staff30 May, 2024

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Uniswap CEO Slams SEC for 'Enforcement Actions' Against Legitimate Crypto Companies

Uniswap founder Hayden Adams has criticized the Securities and Exchange Commission (SEC) for its "enforcement actions" against legitimate cryptocurrency companies. In a recent interview with Decrypt, Adams said that the SEC should focus on "constructive rulemaking and enforcement to prevent fraud" rather than targeting companies that are building useful technology. The SEC has recently sent a Wells notice to Uniswap Labs, the company behind the decentralized cryptocurrency exchange Uniswap. A Wells notice is a formal notification that the SEC is considering taking enforcement action against a company. Adams said that Uniswap has submitted its response to the Wells notice and is preparing for the worst. However, he hopes that the SEC will reconsider its approach and avoid targeting innocent actors. The SEC's actions against Uniswap have been met with criticism from the cryptocurrency community. Many believe that the SEC is overstepping its authority and that its actions are stifling innovation in the cryptocurrency space.

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