Recently, the crypto community was presented with the latest developments in the Securities Exchange and Commission (SEC) lawsuit against Ripple with Ripple’s defense demanding the SEC provide documentation related to pre-trade decisions against XRP, Bitcoin (BTC), and Ethereum (ETH).
Ripple isn't the only one being hunted by the SEC. The latest is Uniswap Labs, the company that is the backbone of the popular Uniswap Decentralized Exchange (DEX). Based on a report in the Wall Street Journal, inside information found that the SEC is examining the history of users and how the platform is used by investors.
This investigation is only at an early stage, so it does not necessarily end with serious allegations if involved in the offense. However, the reported investigation came just days after the SEC signed a cooperation agreement with blockchain analytics firm to help investigate the Defi ecosystem. SEC Chairman Gary Gensler stressed that the Defi market should be regulated in a previous interview.
Uniswap is a leading DEX protocol that contributes more than a billion dollars in daily trading volume, and this has caught the attention of the SEC.
As can be observed, the U.S. administration is currently increasingly committed to regulating crypto. Among the evidence is the amendment to the crypto tax section in the infrastructure bill.
Uniswap has responded by saying that they will be committed to complying with the laws and regulations governing the crypto industry and providing information to regulators.
For example, the investigation is now in its early stages but the SEC has shown a clear intention to monitor the Defi market.
