{"id":334966,"date":"2021-09-03T23:12:59","date_gmt":"2021-09-03T20:12:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-exchange-developer-uniswap-in-sec-crosshairs\/"},"modified":"2021-09-03T23:12:59","modified_gmt":"2021-09-03T20:12:59","slug":"crypto-exchange-developer-uniswap-in-sec-crosshairs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-exchange-developer-uniswap-in-sec-crosshairs\/","title":{"rendered":"#Crypto exchange developer Uniswap \u2018in SEC crosshairs\u2019"},"content":{"rendered":"<p>&#8220;<strong>#Crypto exchange developer Uniswap \u2018in SEC crosshairs\u2019<\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cryto-currency-001.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>One of the largest names in the burgeoning cryptocurrency space is in the crosshairs of a newly aggressive Securities and Exchange Commission, according to a report.<\/p>\n<p>The investigation of Uniswap Labs, which is the developer behind the biggest so-called decentralized cryptocurrency exchange, underlines the scrutiny crypto-related activities are likely see under new SEC Chairman Gary Gensler.<\/p>\n<p>Some have questioned whether the SEC has the standing to regulate cyrptocurrency trading, but Gensler <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears determined to police the blossoming corner of finance.<\/p>\n<p>The SEC wouldn\u2019t comment to The Post on \u201cthe existence or nonexistence of a possible investigation.\u201d<\/p>\n<p>For its part, Uniswap said in a statement to The Post: \u201cWe are committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.\u201d<\/p>\n<p>A <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/regulators-investigate-crypto-exchange-developer-uniswap-labs-11630666800\">Wall Street Journal report<\/a> Friday said regulators are investigating how products created by Uniswap Labs, which developed DeFi exchange Uniswap, are used by and marketed to customers.<\/p>\n<p>Uniswap allows people to make exchanges \u2014 including trading cryptocurrencies. <\/p>\n<p>\u201cThe platform could conceivably trade securities, and the SEC could be looking into that,\u201d Hossein Azari, co-founder of Clarity Money and founder of DeFi platform Cmorq told The Post. \u201cOf course, the code itself can\u2019t be regulated.\u201d<\/p>\n<p>Decentralized exchanges are a part of the growing decentralized finance, or DeFi, space, which has blown up in recent years. <\/p>\n<p>DeFi refers to a patchwork of financial products that operate without a middleman. <\/p>\n<p>Defi puts traditional banking activities \u2014 lending, trading, buying insurance \u2014 on the blockchain, which is a decentralized, immutable ledger that no one single entity can change.<\/p>\n<p>Supporters say that makes the products more accessible to the average person. And without brokers and bankers involved, many of the services are considerably cheaper, they say. <\/p>\n<p>But taking out the middle man also can mean taking out the regulator, as the SEC, Federal Reserve and other institutions police much of the activity conducted by traditional banks, trading houses and so on. <\/p>\n<p>Proponents say the purpose of DeFi is to bring transparency to the financial system by conducting trades and transactions on an open-ledger, but even they recognize regulatory scrutiny is inevitable.<\/p>\n<p>\u201cDeFi is creating an entirely new banking system, some of which hasn\u2019t yet been subject to regulatory oversight,\u201d Ian Rosen, partner at The Tifin Group and former CEO of StockTwits told The Post. \u201cThis new system will definitely attract regulatory attention to protect the public and punish bad actors \u2014 hopefully they do so without slowing down the process.\u201d<\/p>\n<p>Crypto has long been a focus for the SEC\u2019s Gensler. In August in a\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/public-statement\/gensler-aspen-security-forum-2021-08-03\">speech at the Aspen Security Forum<\/a>, Gensler said, crypto is \u201crife with fraud\u201d and \u201cIf we don\u2019t address the issues, I worry a lot of people will get hurt.\u201d <\/p>\n<p>Gensler has said he wants to expand that focus to include DeFi exchanges.<\/p>\n<p>In the last week crypto has come under attack from Donald Trump \u2014 who said he wasn\u2019t a fan of crypto \u2014 and from hedge fund star\u00a0John Paulson who slammed\u00a0Bitcoin and other cryptocurrencies as essentially \u201cworthless.\u201d<\/p>\n<p>Even as prominent figures like Paulson and Trump diss the digital coin, the price of Bitcoin has jumped in recent weeks.<\/p>\n<p>Last month the price of Bitcoin dropped below $30,000 but has been steadily climbing to $47,000 since that point. In the last year alone, the notoriously volatile Bitcoin has jumped from around $10,000 in October to more than $60,000 at one point in April.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/09\/03\/crypto-exchange-developer-uniswap-in-sec-crosshairs\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Crypto exchange developer Uniswap \u2018in SEC crosshairs\u2019&#8221; One of the largest names in the burgeoning cryptocurrency space is in the crosshairs of a newly aggressive Securities and Exchange Commission, according to a report. The investigation of Uniswap Labs, which is the developer behind the biggest so-called decentralized cryptocurrency exchange, underlines the scrutiny crypto-related activities are&#8230;<\/p>\n","protected":false},"author":1,"featured_media":334967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cryto-currency-001.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[115360,76127,72976],"class_list":["post-334966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-3-21","tag-cryptocurrency","tag-securities-and-exchange-commission"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/334966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=334966"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/334966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/334967"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=334966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=334966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=334966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}