SEC is investigating decentralized crypto exchange developer Uniswap Labs: Report 

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Uniswap Labs, the startup behind the largest decentralized cryptocurrency exchange.

The Wall Street Journal reported the news on Friday, citing "people familiar with the matter." Enforcement attorneys are said to be seeking information about how investors use Uniswap and how it is marketed.

Last month, SEC chairman Gary Gensler said that the agency could regulate decentralized finance (DeFi) projects. Specifically, DeFi projects that reward participants with valuable tokens or similar incentives could be regulated, no matter how "decentralized" they say they are, Gensler said at the time. 

A Uniswap Labs spokesperson told The Journal that the firm is is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.” An SEC spokesperson declined to comment to the news outlet, saying the agency doesn’t confirm or deny investigations.

The investigation appears to be in its early stages and may not result in any formal allegations of wrongdoing, per the report.

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About Author

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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