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- The Security and Exchange Commission has launched an investigation against Uniswap Labs.
- The company is responsible for the development of Uniswap.
- The largest DeFi exchange in the world is thus targeted by US investigators.
The head of the SEC announced a few weeks ago that DeFi also falls within the remit of his agency. Nobody should be able to hide behind decentralized business models from the US supervisory authority. Now the words are followed by first deeds, because as the Wall Street Journal claims to have found out, the SEC is investigating Uniswap.
Although the current investigation is more of an investigation, it could ultimately serve to prepare a trial. Accordingly, the SEC is probably interested in how investors use Uniswap and what marketing strategies the platform is pursuing.
Uniswap is not alone in this, because if you want to believe the report, then the SEC is also interested in other software developers or their companies who also develop DeFi protocols. In principle, the SEC first has to find its role in relation to DeFi and to do this it must be able to show how the business models fall within its area of responsibility.
Uniswap is the largest fish in the pool
Uniswap is probably the largest fish in the whole pool. The various versions of the platform generate between $ 1 billion and $ 2 billion a day. Although the Ethereum blockchain cannot be switched off, the developers could be put under pressure if the SEC should discover that US law has been violated. What consequences this could have for Uniswap or other platforms is still completely open.
In the end, however, it should be a fight against windmills. Because if the US authority should be carried away to play the world police, then developers could simply become active under a pseudonym in the future. Then no responsible person could be found and the blockchain could not be managed anyway.
Meanwhile, the company concerned is open to cooperation with the authorities. A sentence that has been used quite often in the past, companies usually have no choice at all.