Uniswap’s token (UNI-USD) is soaring even as the platform challenges the SEC’s weak legal basis in court. They didn’t hold back, calling the SEC’s legal footing “weak” and basically telling them to get their act together.
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Uniswap Labs Calls Out SEC’s Flimsy Case
In a blog post on May 21, Uniswap Labs tore into the SEC’s Wells Notice. The SEC seems to think all tokens are securities—Marvin Ammori, Uniswap’s Chief Legal Officer, says that’s a load of bull. Tokens are just a file format for value, not automatically securities. Ammori also ripped the SEC for trying to stretch definitions like “exchange,” “broker,” and “investment contract” to fit Uniswap’s operations.
He didn’t stop there. Ammori pointed out that the SEC’s claim that Uniswap’s interface and wallet act as brokers would likely fail, especially after a federal judge tossed similar claims against Coinbase Wallet. Uniswap is ready to go to war in court if needed, boasting a legal dream team with wins in high-profile cases like Grayscale and Ripple.
Uniswap also warned that a case against them would push American crypto investors to foreign platforms and scare off future innovators. In other words, the SEC’s overreach could backfire big time.
UNI Token Rides the Wave
While the legal fireworks are going off, Uniswap’s native token, UNI, is having a moment. It’s up +22.89% so far this week, trading at $9.30. It looks like investors are betting on Uniswap’s resilience and potential despite the SEC drama.
The SEC has been panned and criticized for its behavior towards the crypto market. This isn’t just a Uniswap issue—Coinbase received a similar notice last year, leading to major lawsuits. Robinhood is next on the SEC’s hit list, with legal action expected soon.
Uniswap Labs isn’t backing down; it is ready to defend its platform and the principles of decentralized finance. This battle could set the stage for the future of crypto regulation in the U.S., and everyone is watching to see what happens next.
Is Uniswap a Buy?
According to TipRanks’ Summary of Technical Indicators, Uniswap is a Buy.
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