The SEC is investigating Uniswap, the world's largest decentralised exchange
The Securities and Exchange Commission, SEC, is conducting an investigation into Uniswap.
And Uniswap is the market leader in the decentralised cryptocurrency trading space.
According to some accounts, regulators in the United States are actively monitoring
how investors use UniSwap.
Additionally, they are examining their marketing processes.
The SEC is also probing the company's crypto lending apps.
This is also why the token's price has fallen in recent days.
The SEC is examining Uniswap and their Defi Exchange.
It is pretty clear from unnamed sources that an investigation will take place.
According to a spokeswoman for Uniswap Labs, the company is committed to adhering to all
applicable rules and regulations.
Uniswap will also provide regulators with all information necessary for the investigation.
Are you curious about Uniswap?
Then here you go.
The crypto enthusiasts must be thinking, "Well, I'm aware of what Uniswap does."
However, there are situations when understanding a little more about it will benefit you.
Uniswap is an Ethereum-based system for exchanging ERC20 Tokens.
The abbreviation ERC stands for "Ethereum Request for Comment."
And it is used to create and execute various contracts on the Ethereum network.
Uniswap is a platform that enables crypto fans to trade tokens without paying platform
fees or going via a middleman.
Why is there much contention?
Uniswap is built on the Ethereum blockchain.
Despite the fact that it serves as the central centre for decentralised trade, it has faced
several criticisms.
That is why, at some point, swaps and transactions can become prohibitively expensive.
And, most recently, the exchange faced considerable outrage following its decision to ban over
100 crypto assets from their marketplace.
Uniswap is one of the major dexes in terms of transaction volume, and the decision to
remove 100 crypto tokens appears suspicious.
Consider this, don't you believe?
Why, all of a sudden, such a tremendous leap?
Regulators fear that some of those 100 tokens were not registered with US regulators.
To my mind, this appears to be a good assumption.
Uniswap Labs, on the other hand, is making a concerted effort to overcome this charge.
They add that the tokens represented a minuscule part of the total volume of the company's
protocol.
Uniswap's Bag already has a few controversies.
Uniswap began delisting specific coins from trade a few weeks before July 27th.
And this devastated the hearts of many crypto enthusiasts.
And this particular campaign suffered a significant setback as a result of protests on social
media and in several Telegram groups.
The whole list can be seen on Uniswap's Github site.
Among the several tokens were Synthetix, UMA, and others.
They have done this previously; it is not novel, but whatever information becomes available
as a result of the investigation will be shared with you shortly.
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