Uniswap Labs Challenges SEC's Classification of Crypto Tokens as Securities
Why Crypto Tokens Are Not Securities
Uniswap Labs asserts that crypto tokens should be considered as file formats and not securities, challenging the SEC's stance on the matter. The company's Chief Legal Officer, Marvin Ammori, highlights the flawed assumptions made by the SEC.
Response to SEC's Allegations
Uniswap Labs responds to the SEC's Wells notice and expresses confidence in its legal position, ready to litigate if necessary. The company maintains that its governance token, UNI, does not meet the criteria to be classified as a security based on legal standards.
Crypto Market's Reaction
Amid these developments, the value of UNI token increased by 4% over 24 hours, signaling market response to the situation. The broader crypto community closely observes the SEC's actions as they navigate potential regulatory changes during shifting political landscapes.
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