The Securities and Exchange Commission (SEC) is taking a closer look at some big-name venture capital firms who invested in Uniswap Labs, the company behind the popular decentralized exchange Uniswap.
SEC Investigating Uniswap Investors
The SEC has sent letters to several VC firms, including Andreessen Horowitz and Union Square Ventures, asking about their involvement with Uniswap Labs. These firms have poured over $170 million into Uniswap Labs since its inception.
SEC’s Interest in Uniswap
This news comes just four months after the SEC sent a Wells Notice to Uniswap Labs itself. A Wells Notice is a warning that the SEC is investigating a company for potential violations of securities laws.
Uniswap’s Defense
Uniswap Labs’ chief legal officer, Marvin Ammori, argues that the SEC’s claims that Uniswap violated securities laws are unfounded. He says that Uniswap is a decentralized exchange that allows users to trade cryptocurrencies without intermediaries, and that it’s not designed for trading securities.
What’s Next?
It’s unclear what the SEC’s next steps will be, but the agency’s interest in Uniswap and its investors highlights the ongoing scrutiny of the cryptocurrency industry.
