Uniswap CLO: 'Decentralized Cryptocurrencies Are Not Securities'
CryptoNewsTerminal Staff22 May, 2024
Uniswap CLO: 'Decentralized Cryptocurrencies Are Not Securities'
In a recent interview with BeInCrypto, Uniswap's chief legal officer (CLO), Marvin Ammori, argued that the SEC's presumption that all tokens are securities is wrong. He emphasized that the nature of a token is simply a means of storing value and that the SEC needs to change the definition of a broker and investment contract. Ammori's comments come as the SEC continues its crackdown on the cryptocurrency industry. Last April, the SEC served Uniswap with a Wells Notice, a notification that a party is being investigated for a possible enforcement action. The SEC has also taken enforcement actions against other cryptocurrency exchanges, including Coinbase and Kraken. The SEC's actions have raised concerns among the cryptocurrency community about the regulatory landscape for digital assets. Ammori's comments suggest that Uniswap is prepared to fight the SEC's characterization of tokens as securities. It remains to be seen how the SEC will respond to Ammori's comments and whether the agency will continue to pursue enforcement actions against cryptocurrency exchanges. ---
