The US Securities and Exchange Commission, also known as SEC, is probing DeFi exchange platform Uniswap.
This is according to a Friday publication by the Wall Street Journal which claims that the world’s largest decentralized cryptocurrency protocol is being investigated on matters relating to investor services and marketing services.
The SEC has remained silent on the issue so far but Uniswap denied any wrongdoing.
“We are committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.”
Decentralised finance platforms such as Uniswap offer traditional financial instruments without relying on central financial intermediaries i.e banks, exchanges and brokerages etc.
Uniswap is the biggest name in the DeFi space, with over $1.5 billion recorded in trading volume in the past 24 hours.
The SEC has paid extra attention to the DeFi space in recent times and it’s not a surprise they’ve decided to look into Uniswap and some of its operations.