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ARTICLE · 02 MAY 2024

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Uniswap Gets DeFiant: What The SEC's Latest Wells Order Means For Crypto

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In the midst of a flurry of crypto industry litigation, Uniswap was served with a Wells Notice by the U.S. Securities and Exchange Commission...

CanadaTechnology
Marco Ciarlariello
Marco Ciarlariello
Maxwell Solomons
Maxwell Solomons
Courtney Wong
Courtney Wong
Tushar Sharma
Tushar Sharma
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In the midst of a flurry of crypto industry litigation, Uniswap was served with a Wells Notice by the U.S. Securities and Exchange Commission (SEC) on April 10, 2024. A Wells Notice is a preliminary warning that informs entities of charges that the regulator is considering bringing against them, and often leads to enforcement actions. The blockchain industry is no stranger to this term – in the months prior to the SEC's lawsuit against Coinbase, a Wells Notice was also served against the cryptocurrency exchange platform.1

In this article we will examine the significance of the Wells Notice, the SEC's targeting of decentralized financial services (DeFi) or decentralized financial exchanges (DEX), and what the latest SEC action could mean for the crypto industry.

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