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Unchained

Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance? - Ep. 632

Apr 12, 2024
Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, dives into the SEC's recent Wells notice against Uniswap. She discusses the implications for decentralized finance and predicts a "kitchen sink approach" from the SEC. Amanda explains how certain Uniswap tokens could be classified as securities and the challenges in proving Uniswap Labs' responsibility. Additionally, she highlights the DeFi Education Fund's lawsuit against the SEC over airdrop regulations and advocates for a proactive legal strategy in addressing regulatory concerns.
41:10

Podcast summary created with Snipd AI

Quick takeaways

  • The SEC could target specific tokens as securities on Uniswap, challenging the platform's DeFi status.
  • A proactive counteroffensive strategy is necessary to navigate potential SEC enforcement actions in DeFi.

Deep dives

SEC Taking Legal Action Against Uniswap Labs

The SEC has issued a Wells Notice to Uniswap Labs, signaling a potential lawsuit. Speculations suggest the Wells Notice may accuse Uniswap Labs products of violating securities laws. The SEC's stance on crypto tokens, excluding Bitcoin, as securities might influence the lawsuit's direction. The agency may focus on proving that just one or two tokens within Uniswap Protocol are securities, aligning with their strategy in centralized exchange cases.

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