The US Securities and Exchange Commission (SEC) is supposedly investigating Uniswap Labs, the company behind the popular Decentralized Exchange (DEX) protocol Uniswap. As per a report in the Wall Street Journal, individuals knowledgeable about the matter exposed that the SEC is checking out user history and how the platform is being used by investors.
The investigation is presently in the extremely early phase, this does not necessarily wind up in major claims of misbehaviors. However, the reported examination comes just days after SEC signed a handle a blockchain analytic firm to assist them investigate the varied Defi community. SEC chief Gary Gensler has reinstated the requirement to regulate the Defi market in his past interviews.
Uniswap is the leading DEX procedure accounting for over a billion dollars in daily trading volume, and SEC’s interest in the biggest Dex platform suggests the growing scrutiny towards the Defi market. Gensler had actually said that no matter how decentralized these Defi platforms claim to be given that they provide valuable tokens as rewards they may fall under the overwatch of the SEC.
This story is being updated
The post Breaking: United States SEC is Reportedly Investigating Uniswap Labs appeared very first on Coingape.