Uniswap Labs disputes SEC broker and exchange claims in Wells Notice response

Uniswap Labs responded to the SEC’s Wells Notice. The team says DeFi protocol code is not a broker or an exchange.

Uniswap pushes back on SEC’s broker/exchange theory

Uniswap Labs published its Wells response to the SEC. The filing argues automated protocol software does not fit the regulator’s broker or exchange categories. Read the Uniswap response.

The stance targets a core DeFi question. Can open-source, automated liquidity be treated like a centralized venue? Uniswap says no. Source.

For markets, the document looks dry. For DeFi, it sets a line between code and intermediaries. Source.

• Uniswap filed its Wells response to the SEC. Source
• It claims automated protocols are not brokers or exchanges. Source
• The move joins broader industry pushback on SEC enforcement logic. Source

The sector read: more contested regulation ahead. Firms challenge, not settle. Outcomes remain open. Source