SEC issues Wells notice to DeFi protocol Uniswap

The Securities and Exchange Commission of the United States has sent a Wells notice to Uniswap, the decentralized exchange.

Marvin Ammori, the chief legal officer of Uniswap, confirmed the receipt of the regulator’s notice via X (previously known as Twitter) on April 10. “The Wells notice against Uniswap today is disheartening, yet unsurprising given the SEC’s stance,” Ammori stated, contending:

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“If the SEC had authority over our self-custodial, non-intermediated products, it could tell us how to register them. It can’t and so it doesn’t. It has provided no clarity and no guidance — as several SEC commissioners have stated in multiple dissents.”

Today Uniswap Labs received a Wells notice from the SEC

And we're ready to fight

This is the latest political effort to target even the best actors in crypto like Uniswap and Coinbase

All Uniswap products and the Uniswap Protocol are unaffectedhttps://t.co/i2p5LubELk

— Uniswap Labs 🦄 (@Uniswap) April 10, 2024

1/ Today’s Wells notice against @Uniswap is disappointing, but is not unexpected from this SEC

It’s another abuse of power – unsurprising from an SEC that:

Last month, a federal judge ruled committed a "gross abuse of power" by lying in court about a crypto project

— Marvin Ammori (@ammori) April 10, 2024