Uniswap CLO Sends a Letter to the SEC Against the Definition Proposal of Exchanges

IconCryptoNewsTerminal Staff09 Jul, 2024

cryptonews.jpg

Uniswap CLO Sends a Letter to the SEC Against the Definition Proposal of Exchanges

Uniswap Labs’ Chief Legal Officer (CLO), Katherine Minarik, sent a letter to the U.S. Securities and Exchange Commission (SEC) via X opposing a proposal that defines exchanges. Minarik argued that "the SEC should not adopt a proposal that inappropriately broadens the definition to include DeFi, among other things, within 'exchange.'" Last year, the SEC introduced the proposal on the definition of "exchange," stating that "a system operated by a platform that brings together buyers and sellers of securities, and that uses communication protocols that allow participants to interact with each other to purchase or sell securities" would be considered an exchange. There have been concerns in the industry that such a rule could bring decentralized finance (DeFi), such as DEXs, under its regulatory purview.

Related News