Uniswap Receives Wells Notice from SEC, Claims Decentralized Exchanges Don't Need Oversight

• Uniswap Labs received a Wells Notice from the SEC saying it plans to recommend enforcement action against the company for operating as an unregistered exchange and broker dealer • The SEC claims decentralized crypto exchanges like Uniswap aren't really decentralized and fall under its oversight • Uniswap argues it's structurally different than centralized exchanges and is just software people use for trading without intermediaries • Decentralized exchanges accounted for over 27% of recent crypto trading volume, while centralized exchanges accounted for the rest • Uniswap officials say the SEC is trying to "kill innovation" and they look forward to winning against the claims