A Wall Street Journal report has revealed that leading United States financial regulator, the Securities and Exchange commission could be investigating the team behind the largest decentralized crypto exchange, Uniswap Lab.
The report citing people familiar with the development revealed that investigators working with the SEC were interested in obtaining information on how Uniswap is being used and the kind of marketing style being employed by the firm.
Commenting on this development, a Uniswap Labs spokesperson stated that the firm is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.” However, an effort to get a comment from the SEC spokesperson proved abortive. The SEC highlighted the fact that the commission does not give comments on ongoing investigations.
Just recently, we reported that the chairman of the commission, Gary Gensler, said that the agency could be able to regulate projects within the Defi space.
Gensler stated that the term “Defi is a misnomer” and that some projects in the space “facilitate something that might be decentralized in some aspects but highly centralized in other aspects.”