Uniswap Labs Replies to SEC Wells Notice
In response to the SEC’s Wells Notice, Uniswap has urged the commission to stay within its constitutional bounds and take lessons from previous rulings. Uniswap, a decentralized exchange, has argued against the U.S. Securities and Exchange Commission’s legal explanation and definition of some DeFi instruments and has called on the agency to reconsider its claims […]
Philippines SEC to Release Crypto Rules in Late 2024
In the second half of 2024, the Philippine Securities and Exchange Commission (SEC) hopes to establish a regulatory framework for cryptocurrencies. Emilio B. Aquino, the chair of the SEC, reportedly stated in a local article that the guidelines will work to control cryptocurrency trading in the country while maintaining investor protection. Aquino disclosed the information […]
Robinhood Receives Wells Notice from U.S SEC
The U.S. SEC has sent Robinhood Markets Inc. a Wells notice alerting it to the possibility of an enforcement action for its cryptocurrency business. According to a regulatory filing submitted on Monday, the SEC’s staff has issued a preliminary determination and recommended that the agency take enforcement action against Robinhood Crypto for its cryptocurrency listings, […]
PayPal Ends Protection for NFT Transactions
PayPal plans to modify its protection measures for NFT transactions, which is a significant departure from how it previously supported the tokens. The payment giant is modifying the terms and conditions page of its Seller Protection Program, stating that as of May 20, Non-Fungible Tokens (NFTs) with a transaction amount of $10,000 or more will […]
Uniswap Nosedives 16% Following Announcement of Wells Notice
Following a legal notice from US regulators, Uniswap’s token, UNI, fell 17% and reached its lowest point since late February at $9.27. The exchange received an official investigation Wells notice from the SEC simultaneously with the most recent decline. According to CoinMarketCap data, the market capitalization of UNI coin had a 17% decline in the […]