Uniswap Decentralized Exchange in SEC Crosshairs

The SEC intends to sue Uniswap Labs, the team behind the Uniswap decentralized exchange protocol.

This move represents an escalation in the SEC's battle against the crypto industry, now targeting a decentralized protocol.

Prior crypto cases targeted centralized institutions like exchanges and companies, but suing a decentralized protocol is new.

Uniswap accuses the SEC of an "imaginative" interpretation of rules and political targeting of blockchain technology.

This may be the first shot against DeFi, with more suits against other DEX protocols potentially following. The SEC has a history of suing one target in a category before moving to the next.