CFTC Settles With Uniswap Labs Over Leveraged Crypto Trading
- Company agrees to pay $175,000 fine as part of settlement
- Uniswap received a Wells notice from the SEC earlier this year
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The US Commodity Futures Trading Commission fined Uniswap Labs $175,000 as part of a settlement of allegations that the decentralized crypto exchange illegally offered leveraged retail trading in digital assets.
Universal Navigation Inc., which does business as Uniswap Labs, has been ordered to cease and desist from violating the Commodity Exchange Act, known as CEA, as part of the settlement. Decentralized-finance code developed in large part by Uniswap lets users directly trade digital assets — including leveraged tokens — without intermediaries.