Uniswap Labs investigated by SEC, what is your opinion? - page 2.

Sterbens

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When that issues happening about SEC investigate with Uniswap Exchange, last faced investigate by SEC is XRP coin and many people loss much there but always cryptocurrency is the winner and XRP fight back and win on justice. I think SEC want to get commission with cryptocurrency and try how to make USDT back and popular than crypto. They try to do everything and destroy cryptocurrency community by investigating Uniswap Exchange, but is not anything have to worry because Uniswap is not founding in United State the are of SEC commission working, the uniswap exchange is not their business.

With the many investigations that the SEC frequently conducts, we see XRP depressing to the point of falling in price. Then XRP's reputation became public opinion continuously for some time after the investigation took place. But the SEC made the investigation time span long enough that the saturation and then the strong effectiveness of XRP and the multiple delegates of investors who were already behind XRP made them resilient.

Well, with the same case, I think Uniswap can really solve this problem as quickly as possible. Because otherwise the impact will be the same as XRP. Only the immunity of Cryptocurrency integrity seems to be created as an overlapping sector for the SEC that has never been completed only once or twice an investigation.

lizarder

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Quote from: Sterbens on September 07, 2021, 08:24:36 AM

I came across a new article about SEC oversight of the developer of the Uniswap decentralized exchange. On the other hand, what is your view on the SEC work and why is its position so influential on matters relating to crypto transactions, especially in this era of increasing adoption, such as being a financial center for the SEC because they can make money paying fines.

What are your views on the cases the SEC has handled frequently so far, comments are invaluable.

There is a specific agreement to ensure the continuity of the cryptocurrencies they currently offer, so that the SEC is the controller in running cryptocurrencies going forward, although I can't clearly prove the source at this time, I often analyze some third parties who always encourage them in crypto development in the future.

Even if the SEC can make money paying fines, it is possible that the SEC has made a pact to adopt its influence in this increasingly advanced and evolving era, but this is just my analysis and not an actual justification for what's to come.

Bitbtc8

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Honestly SEC shouldn't have any business with exchange like uniswap because it's a decentralized exchange, this is like breaking the rules of Dex and this is also the reason why I believe that all Decentralized exchange should have anonymous teams and Devs just incase something like this is been planned

Al Qiyamah

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The SEC is an independent body created by America to oversee implementation of the rules of trade effect and set market on stock exchange trading. And recently the SEC is currently investigating DEX Uniswap. and I think the SEC is very strict in handling the existing cases, and does not hesitate to give fines for those who are considered to have violated the rules. I hope Uniswap doesn't fall victim again like XRP.

GreatArkansas

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Quote from: huu78 on September 07, 2021, 05:57:34 PM

I think uniswap has been monitored for a long time, with such a large amount of volume, this makes the SEC move because decentralized exchanges have the potential to be a place for money laundering. I feel if uniswap has to follow SEC rules in the future or they will get in bigger trouble.

This is a very big challenge for SEC and other governments, we all know how Decentralized Exchange (DEX) or even cryptocurrency works, if you just think, you can say, they can't do something with decentralized exchanges.
For me @WalkerIVIV is right, it is impossible they can seize uniswap as the team behind Uniswap is complying with regulation.

huu78

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I think uniswap has been monitored for a long time, with such a large amount of volume, this makes the SEC move because decentralized exchanges have the potential to be a place for money laundering. I feel if uniswap has to follow SEC rules in the future or they will get in bigger trouble.

livingfree

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It's normal for SEC to be that active when there's bunch of money coming in and out to the market and it includes these swaps.

They might looking to those customers that are trying to evade them and use these swaps to launder money. That's what I can think of why they're this strict lately.

TimeTeller

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Quote from: Review Master on September 07, 2021, 01:26:25 PM

Quote from: Sterbens on September 07, 2021, 08:24:36 AM

What are your views on the cases the SEC has handled frequently so far, comments are invaluable.

As SEC's currently seeking for information about the usages of uniswap from investors and marketing stuff, most probably they're looking after any possible ways to regulate it. Although it won't be called as a true DEX platform if regulation is done. But most possibly they would restrict domain in worst case scenarios which won't be that much effective after all. So lets just wait for the best as most users are still positive about it.

This may be a long running investigation as we are talking about a decentralized exchange.
What areas can a DEX be possibly violating the government protocols especially if they don't know their clients?
Maybe, they will look more on the legalities of the exchange and their operations.
I don't think it is good idea to regulate also the existence of DEX, as it may require to ask KYC from customers, which is against its concept.

Vaculin

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Winding down.

SEC is now seriously monitoring crypto exchanges and it is possible that someone does the reports about Uniswap that brought their attention and investigation but if they don't do anything that was against the law, then they shouldn't be worried. Well, just to hope that they don't do anything like that is they will surely stop their operation. But base on their preliminary investigation, they don't find any illegalities but still, we can't be sure until the SEC has done.

Review Master

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Quote from: Sterbens on September 07, 2021, 08:24:36 AM

What are your views on the cases the SEC has handled frequently so far, comments are invaluable.

As SEC's currently seeking for information about the usages of uniswap from investors and marketing stuff, most probably they're looking after any possible ways to regulate it. Although it won't be called as a true DEX platform if regulation is done. But most possibly they would restrict domain in worst case scenarios which won't be that much effective after all. So lets just wait for the best as most users are still positive about it.

Sterbens

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Quote from: avikz on September 07, 2021, 12:14:36 PM

Decentralized exchanges are the main point of concern to many governments and regulatory agencies. The kind of popularity Uniswap has got since its inception, is immense! Which definitely acted as a catalyst to bring SEC to their doorsteps. But it seems like SEC has floated some civil enquiries for now. But there's no guarantee that they will not come back with some serious issues.

There's no denying that swaps and decentralized exchanges have made the job of a money launderer quite easy and Unswap is the largest swap provide by volume. Let's hope that everything goes fine!

You're right, that as a sizable and profitable DEX exchange that the SEC is concerned about, we learned from Binance who recently interacted with the SEC for the same reason. I believe Uniswap is cooperative in answering every question and providing the best possible information. does it satisfy the SEC without taking the fine?

Does this pose a threat to other exchanges being in full control of the KYC/AML authorities? What will happen in the future if the SEC continues to target exchanges that ultimately limit users' freedom of transaction?

avikz

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Quote from: Sterbens on September 07, 2021, 08:24:36 AM

I came across a new article about SEC oversight of the developer of the Uniswap decentralized exchange. On the other hand, what is your view on the SEC work and why is its position so influential on matters relating to crypto transactions, especially in this era of increasing adoption, such as being a financial center for the SEC because they can make money paying fines.

What are your views on the cases the SEC has handled frequently so far, comments are invaluable.

Decentralized exchanges are the main point of concern to many governments and regulatory agencies. The kind of popularity Uniswap has got since its inception, is immense! Which definitely acted as a catalyst to bring SEC to their doorsteps. But it seems like SEC has floated some civil enquiries for now. But there's no guarantee that they will not come back with some serious issues.

There's no denying that swaps and decentralized exchanges have made the job of a money launderer quite easy and Unswap is the largest swap provide by volume. Let's hope that everything goes fine!

mu_enrico

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It's soon to be the next EtherDelta. Exchanges are under heavy regulatory pressure on AML/KYC (look at Binance), so they will be forced to obey the law. Their only option is to submit or marked as illegal and stop the operation. Remember fully complying with regulation means KYC on DEX? LoL, there's no such thing as DEX. However, I do like Uniswap et al. with their ease of use and the market-maker style on their platform.

Ucy

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I wonder if the company is under the government. I tend to think that their governance structure makes such investigation possible. I guess it's based on token governance, and they probably don't have enough anonymity to protect themselves just incase they are dealing with regulators that are abusing their powers.
A truely decentralized company would be difficult to abuse if it has Decentralized Autonomous Organization that is open, transparent, permissionless, censorship resistant, based on right/fair rules, immutable, privacy-friendly, trustless etc... rather than being controlled by one or few people.
I have no issue with a company that isn't well decentralized and accountable getting investigated. Been long I checked Uniswap governance though.

WalkerIVIV

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This is something that already fully explained by the article

I will try to quote the point from your the article that you have mentioned above

Quote

The SEC is seeking information about how investors use the exchange and how it is marketed

SEC was seeking the information from the uniswap labs. I will not think that gives bad impact to the uniswap or crypto. UNISWAP already stated if the team behind uniswap lab will be fully complying with the regulation.

Sterbens

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Duelbits.com

I came across a new article about SEC oversight of the developer of the Uniswap decentralized exchange. On the other hand, what is your view on the SEC work and why is its position so influential on matters relating to crypto transactions, especially in this era of increasing adoption, such as being a financial center for the SEC because they can make money paying fines.

What are your views on the cases the SEC has handled frequently so far, comments are invaluable.

Topic: Uniswap Labs investigated by SEC, what is your opinion? - page 2. (Read 200 times)