The founder of Uniswap Labs has revealed that the Securities and Exchange Commission has issued a Wells Notice to the company and is planning to file a lawsuit against them.
This comes as part of a broader crackdown on decentralized finance (DeFi) by regulators, which has been viewed by some as a chaotic sector within the industry.
Hayden Adams, the founder of Uniswap, expressed his disappointment and readiness to fight the charges, stating that the SEC has been focusing on targeting reputable companies like Uniswap and Coinbase instead of implementing clear and informed rules.
Uniswap, which is currently the largest decentralized exchange with 22.5% of daily trading volume, is not the first in the DeFi sector to be targeted by regulators, with SushiSwap being subpoenaed a year prior.
