U.S. SEC investigates crypto exchange developer Uniswap Labs – WSJ

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Sep 3 (Businesshala) – The US Securities and Exchange Commission (SEC) is investigating Uniswap Labs, the lead developer behind the Wall Street Journal, one of the world’s largest cryptocurrency exchanges, Uniswap. reported on Friday, citing people familiar with the matter.

The report said enforcement lawyers are looking for more information about how investors use UniSwap and how it is marketed.

Uniswap did not immediately respond to a Businesshala request for comment.

The SEC’s investigation into Uniswap Labs comes amid increased regulatory interest in the cryptocurrencies and digital asset markets, with Chair Gary Gensler last month calling on Congress to give the agency more powers to better police crypto trading and lending.

Uniswap Decentralized Finance or DeFi is a crypto marketplace for developers, traders and liquidity providers. DeFi is an open network and works on a peer-to-peer system, where transactions are not done through a centralized system such as a bank or brokerage.

Gensler in August called on lawmakers to give the SEC more power to oversee DeFi platforms, which are not regulated in the United States.

Reporting by Sohini Poddar in Bengaluru; Editing by Vinay Dwivedi

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