- Adams thinks that Uniswap, which promotes transparent financial markets, better embodies the SEC’s objectives than the organization does.
- Hayden Adams took issue with the SEC’s targeting of respectable companies while ignoring wrongdoing by companies such as FTX.
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The Securities and Exchange Commission (SEC) has served the decentralized exchange Uniswap with a Wells notice, according to information disclosed by Hayden Adams, the founder of the platform, on Wednesday.
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What transpired was that he vowed to oppose the financial watchdog, claiming that it was allowing dishonest individuals to get away with their crimes rather than safeguarding investors.
He stated on X (formerly Twitter) that he is “just annoyed, disappointed, and ready to fight,” adding, “I’m not surprised.”
Adams underlined his support for Uniswap’s legal business practices and charged the SEC with single-handedly going after respectable business players while ignoring others.
It’s been evident for some time now that the SEC prefers to target established good actors like Uniswap and Coinbase with its attacks, rather than attempting to develop clear, well-informed regulations. all the while allowing crooks like FTX to get away with it,” he said.
Since its launch, Uniswap, which was intended to be an experiment in highly automated, radically decentralized on-chain markets, has expanded dramatically.
“Now, the Uniswap Protocol has handled more than $2 trillion in volume,” Adams stated, highlighting the platform’s influence on the field of financial technology.
Adams’ complaints are in line with the general opinion held by cryptocurrency entrepreneurs that the SEC’s present regulatory strategy is unduly restrictive of start-ups and inadequately transparent.
According to Adams, the goals of the SEC are to safeguard investors, uphold just, efficient, and orderly markets, and encourage capital formation.
He contended that Uniswap performs better than the SEC in these domains.
“I think freedom is worth fighting for,” he wrote as he concluded his post on X, which at the time of writing had almost one million views. DeFi, in my opinion, merits fighting for.
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