Former SEC official advises Uniswap to “prepare for war”
Professor Verret indirectly suggested that the legal battle between UniSwap and the SEC will be much larger compared to the Coinbase vs SEC case.
Uniswap is a top-ranked decentralised crypto exchange in the crypto space. This platform is popular because of its first-mover advantage. At this platform, crypto traders are not required to go through any kind of registration or KYC procedure, as it is a Defi protocol.
We recently reported that the United States Securities and Exchange Commission (SEC) sent a Wells Notice to the UniSwap team. Through the notice, the SEC body raised concerns over the crypto trading services without registration & providing unregistered Securities offerings.
Uniswap’s founder openly said that they were already expecting notice from the SEC body, as the majority of the big crypto companies received lawsuit action for providing crypto services in compliance with traditional rules & laws.
In response to this matter, Professor J.W. Verret from George Mason Law School, who has previously served on an SEC advisory committee, likened the challenges faced by Uniswap to those previously seen with publicly trading American crypto exchange Coinbase ($COIN).
The former SEC official said that the latest SEC notice against UniSwap is part of continued government attention on decentralised platforms.
These so-called Defi crypto exchanges don’t fit neatly into traditional rules because they (financial regulators) don’t have a single authority controlling them.
Furthermore, Verret suggested the UniSwap team remain ready for a big war against the SEC body.
Verret draws on his extensive experience to give insights into how these legal fights could develop. His latest analysis on the UniSwap vs SEC provides valuable viewpoints for those interested in how the law intersects with new technologies.
Uniswap (Uni) price
The current trade price of Uni, the native token of UniSwap crypto exchange, is $6.8 and this trade price is 40% down over the last 7 days.
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