The US Securities and Exchange Commission will investigate the activities of Uniswap Labs, the developer of the Uniswap decentralized exchange.
About it
reported Wall Street Journal, citing knowledgeable sources. The regulator has not made any accusations against Uniswap, but only intends to find out how traders use the exchange, as well as study the features of trading on this site and the general principles of its operation.
The rapid development of the Uniswap exchange alerted the department – in April this year, the weekly trading volume on the platform for the first time exceeded $ 10 billion. A representative of Uniswap Labs said that the platform operates in compliance with all laws and regulations governing the cryptocurrency industry. Uniswap is ready to provide the necessary information to the Commission to help it sort out any issue. After this information appeared in the media, the UNI rate fell from $ 31 to $ 28.71.
The SEC launched this “investigation” shortly after
conclusions cooperation with the firm AnChain.AI, which analyzes transactions in blockchains. The agency will use AnChain’s AI and machine learning tools to track illegal transactions in decentralized finance protocols. The contract with AnChain was signed for five years, and its total amount was $ 625,000. CEO and co-founder of AnChain.AI Victor Fang commented on the cooperation with the regulator:
“The SEC wants to understand what is happening in the world of digital assets based on smart contracts. Therefore, we are ready to provide technology to her to analyze and track them, ”said Fan.
Recently, SEC Chairman Gary Gensler called for increased oversight of the DeFi industry, as it poses many risks for investors. Earlier, SEC Commissioner Hester Peirce also advised DeFi project developers to take interaction with regulators more seriously.
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