The US Commodity Futures Trading Commission has reached a settlement with Uniswap Labs for $175,000 regarding the firm’s offering of illegal digital asset derivatives trading.
This action reaffirms the CFTC’s commitment to enforcing the Commodity Exchange Act as the digital asset market and decentralized finance ecosystems continue to evolve.
Director of Enforcement Ian McGinley stated that DeFi operators must ensure that their transactions comply with the law.
In addition to the CFTC’s charges, Uniswap Labs also received a Wells Notice from the U.S. Securities and Exchange Commission in May.
The SEC alleged that Uniswap Labs acted as an unregistered securities exchange and broker-dealer. The CFTC’s investigation found that Uniswap Labs allowed both institutional and retail users to trade digital assets through a protocol on the Ethereum blockchain.
