CFTC charges Uniswap with illegal derivatives trading
One CFTC commissioner dissented, calling the action “regulation by enforcement.”
The United States Commodity Futures Trading Commission (CFTC) charged decentralized exchange (DEX) developer Uniswap Labs with illegally offering leveraged cryptocurrency trading to US retail investors, according to a Sept. 4 announcement.
The CFTC said Uniswap Labs agreed to settle the charges by adhering to an order requiring the decentralized finance (DeFi) developer to pay a $175,000 civil penalty and cease violating the Commodity Exchange Act (CEA).
The CFTC’s enforcement division “will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve,” Ian McGinley, the CFTC’s director of enforcement, said in a statement. “DeFi operators must be vigilant to ensure that transactions comply with the law.”
One CFTC commissioner dissented, calling the action “regulation by enforcement.”
The United States Commodity Futures Trading Commission (CFTC) charged decentralized exchange (DEX) developer Uniswap Labs with illegally offering leveraged cryptocurrency trading to US retail investors, according to a Sept. 4 announcement.The CFTC said Uniswap Labs agreed to settle the charges by adhering to an order requiring the decentralized finance (DeFi) developer to pay a $175,000 civil penalty and cease violating the Commodity Exchange Act (CEA). The CFTC’s enforcement division “will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve,” Ian McGinley, the CFTC’s director of enforcement, said in a statement. “DeFi operators must be vigilant to ensure that transactions comply with the law.” Read more