Sterbens (OP)
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September 07, 2021, 01:24:36 PM |
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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.
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WalkerIVIV
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September 07, 2021, 02:20:46 PM |
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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 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.
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Ucy
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September 07, 2021, 03:14:07 PM |
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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.
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mu_enrico
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September 07, 2021, 05:04:53 PM |
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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.
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avikz
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September 07, 2021, 05:14:36 PM |
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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!
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Sterbens (OP)
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September 07, 2021, 05:34:02 PM |
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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?
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Review Master
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September 07, 2021, 06:26:25 PM |
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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.
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Vaculin
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September 07, 2021, 10:39:15 PM |
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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.
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TimeTeller
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September 07, 2021, 10:50:19 PM |
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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.
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livingfree
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September 07, 2021, 10:53:47 PM |
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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.
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huu78
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September 07, 2021, 10:57:34 PM |
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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.
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GreatArkansas
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September 07, 2021, 11:21:46 PM |
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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.
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.
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Al Qiyamah
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September 08, 2021, 04:41:07 AM |
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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.
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Bitbtc8
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September 08, 2021, 05:38:45 AM |
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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
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lizarder
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September 08, 2021, 06:30:29 AM |
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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.
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Sterbens (OP)
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September 08, 2021, 10:50:53 AM |
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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.
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alpamar99
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September 08, 2021, 03:06:28 PM |
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It is very reasonable indeed if the SEC does this because it is their job to do this and their main responsibility is to oversee the implementation of regulations in the field of securities trading and regulate the trading market on the stock exchange. and why uniswap? because it is true that until now uniswap has become one of the big exchanges and indeed this could be one of the reasons for the SEC to start looking for things that are on uniswap, and maybe they have been looking for the fault of uniswap but now only published. but on the other hand for now I do not like the work of the SEC because apart from carrying out their duties the SEC is now like a dangerous FUD. I hope Uniswap doesn't become the next XRP.
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semobo
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 08, 2021, 05:30:02 PM |
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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 completely free for everyone to use but governments doesn't allow certain things such as money laundering that is the reason why they are trying to find something but nothing is going to be changed and this can be a proof why the real identity of a decentralized platform can ruin its future that is why Satoshi remains anonymous forever.
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watergold
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September 08, 2021, 06:31:15 PM |
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according to the Wall Street Journal, the SEC only investigated Uniswap's DEX developer. The SEC is also reportedly looking into how investors use Uniswap and they are also trying to investigate the Uniswap market.
With the investigation from the SEC, Uniswap Labs has also confirmed that they will cooperate and assist regulators in the investigation process.
but until now I still have not found nor clarification and response from the SEC regarding this matter. and it seems the investigation is a sign for regulators to tighten their oversight of decentralized finance at this time, after XRP has now moved to Uniswap what next?
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Sterbens (OP)
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Duelbits.com
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September 08, 2021, 08:39:11 PM |
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Decentralized exchanges are completely free for everyone to use but governments doesn't allow certain things such as money laundering that is the reason why they are trying to find something but nothing is going to be changed and this can be a proof why the real identity of a decentralized platform can ruin its future that is why Satoshi remains anonymous forever.
Indeed that is what they (SEC) memorize about cryptocurrency exchanges, always about money laundering until now. Suspecting investors for being in Uniswap is too much. SEC will not stop here, just look at Uniswap, maybe in the future, they have another list as the next exchange that will be followed up. However, in the end, they did not provide any evidence.
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