The fight for DeFi continues
We are sharing our response to the Wells notice Uniswap Labs received from the SEC last month. We believe the SEC should embrace open source technology that improves on outdated commercial and financial systems, instead of attempting to litigate it out of existence. The Uniswap protocol is secure, low cost, transparent infrastructure that “protects investors and maintains fair, orderly, and efficient markets.” Ironically, that’s the SEC’s mission.
The SEC’s aggressive theories are an effort to expand its jurisdiction beyond exchanges to communications technology – and beyond securities to all markets. Their legal arguments are weak and have been refuted by courts. And tomorrow, we expect the House to pass a bill that would give the CFTC robust authority to cover digital asset trading.
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