By Harry B - Crypto Specialist - 04-09-2021
One of the most significant decentralised exchange platforms, Uniswap (UNI), has been hitting the media in the cryptocurrency trading industry as the US Securities and Exchange Commission (SEC) has launched an investigation into the creators of Uniswap Labs.
Reportedly, the SEC needs intel regarding the platform's marketing and investment services. As previously reported by the Wall Street Journal, a spokesperson for Uniswap has stated that the platform is committed to following the rules and regulations. The spokesperson further said that the company would also comply with providing any and all information to regulators to help back any inquiry they may have.
The investigation was brought on in the wake of recent regulatory examination of the decentralized finance (DeFi) business in the United States. SEC Chair Gary Gensler recently disclosed the regulator's security objective to protect US citizens who invest in cryptocurrency.
The Uniswap exchange platform allows its users to swap cryptocurrency through its decentralised technology, meaning users can deal with each other rather than through a central authority. The platform is known for being the first DeFi initiative exchange to reach $1 billion in fees.
Uniswap is known for generally being a user-centric platform. Reportedly, the exchange always upgrades and improves its offers and services to run much more smoothly for its trading processes on the platform.
The Decentralised Finance industry has witnessed rapid growth within the last year. Back in September 2020, the DeFi industry was worth $8 billion, currently, that figure has increased to a whopping $174 billion.
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