DeFi Sector is being attacked by Security Exchange Commission.

The US Securities and Exchange Commission SEC is reported to possess started probes on other DeFi Dapp platforms apart from Uniswap
The US Securities and Exchange Commission SEC is reported to possess started probes on other DeFi Dapp platforms apart from Uniswap
  • SEC started probes on other DeFi Dapp platforms other than Uniswap
  • 2 weeks ago US Security Exchange Commission chairman, G. Gensler, promised to crack down cryptocurrencies

The US Securities and Exchange Commission (SEC) is reported to possess started probes on other DeFi Dapp platforms apart from Uniswap.

According to reports, the US SEC investigation into Uniswap Labs is a component of a wider initiative against the DeFi sector.
It means regulators are making their way into many platforms in DeFi, apart from just the one into Uniswap Labs.

However, the source with data on the topic refused to be cited because the news is private. More so, the source said that the SEC has become increasingly focused on Decentralised Finance projects.

In addition, The Wall Street Journal also noted that Security Exchange Commission experts are studying reports about Uniswap. And also how investors communicate with it. in keeping with the news, the study continues to be at an early stage. Therefore, there are details as of now.

Based on the SEC website, this procedure doesn’t necessarily cause any enforcement action. But within its framework, it can, for instance, call witnesses to court to testify.

Also, Delphi Labs General Counsel Gabriel Shapiro said that DeFi projects “are setting out to receive letters from the SEC. And requests from other regulators.” Further, he said,

Lawyers in this area have known and talked about this for about a month. […] Now everything just becomes public.

The media NY Times also have reported that the Security Exchange Commission took similar actions in early 2017-2018 with relation to the organizers of the Initial Coin Offering projects.

About 2 weeks ago, the chairman of the United States Security Exchange Commission, G. Gensler, promised a crypto crackdown. This can be because he believes the industry is “Wild and unregulated”