Regulation

Uniswap Labs Denies Crypto Tokens Are Securities in SEC Response

Uniswap Labs received a Wells notice last month from the SEC
Uniswap Labs Says Crypto Tokens Are File Format Like PDFs

The US Securities and Exchange Commission headquarters in Washington, DC. — The US Securities and Exchange Commission headquarters in Washington, DC.
Photographer: Tierney L. Cross/Bloomberg

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By Muyao Shen

May 21, 2024 at 6:09 PM UTC

This article is for subscribers only.

Uniswap Labs, the creator of the largest decentralized trading platform on Ethereum, said a potential enforcement action against it by the US Securities and Exchange Commission has no merit because crypto tokens are not securities, but rather are simply a form of files like PDFs.

The New York-based startup on Tuesday disputed the allegation that it operates an unregistered exchange and broker dealer. The response came after it announced last month that the SEC’s Enforcement Division served it with a Wells notice, notifying Uniswap Labs that it plans to recommend a legal action against it.