SEC is currently being troubled with this ongoing lawsuit with Ripple technologies, and frankly, the commission has had a very hard time putting up the fight with Ripple’s defence. There is still some decision to be made on the case by the court, and while awaiting the final outcome, SEC is continuing with its daily chores, which is investigating the crypto space and making sure that nothing out of the ordinary is taking place. This time around, it is the decentralized crypto exchange Uniswap that is being investigated by the SEC. The main event of this investigation is to find out how investors use Uniswap and how the exchange is being marketed to the open world.
Recently in a broad interview, the chairman of SEC, Gary Gensler, said that the commission is obliged to investigate and regulate not only the cryptocurrencies in general but the DeFi projects as well. Answering a question, he also mentioned that no matter how decentralized the project is going to be, it is the solemn duty of the SEC to make the regulation and ensure that it is safe for the public. For the time being, the DeFi projects that offer their users some kind of incentive in terms of crypto tokens or some other awards for participating or being of service to the project in any way are being investigated by the SEC.
Uniswap is Willing to Help SEC in XRP Lawsuit
The Uniswap spokesperson had a very cool tempo with this whole investigation of the firm by SEC and basically said that Uniswap labs is duly committed to upholding the rules and regulations within the crypto space and are trying their best to provide all users with the same and unbiased services. Uniswap is more than happy to assist the regulatory authorities in getting whatever information they require for the sake of investigation.
As it happens, the investigation is still in its very early stages, and right from the bat, there can be no accusations or good or wrongdoers; it is definitely going to take some time, and more information will be made available once the reports start to come out as the investigation proceeds.