The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to decentralized exchange Uniswap.
On X (formerly Twitter), Uniswap legal director Marvin Ammori confirmed the regulator's April 10 notice. "Today's Wells v. @Uniswap notice is disappointing, but not unexpected from this SEC," wrote Ammori , arguing that:
"If the SEC had authority over our standalone products, in which it does not mediate, it could tell us how to register them. It can't and therefore doesn't. It has not provided clarity or guidance - as several SEC commissioners have stated in multiple objections."
A Wells Notice is a formal notice issued by the SEC to inform a company or individual that the regulator's staff intends to recommend enforcement action against them. This notice gives the recipient the opportunity to submit written explanations or arguments (the "Wells Statement") explaining why such action should not be taken.
The SEC has been investigating Uniswap Labs, Uniswap's lead developer, since 2021. DEX previously removed several tokens from its platform, citing increasing regulatory pressure.
