CFTC Issues Order Against Ethereum DeFi Exchange Uniswap
2024-09-04 15:49:50 UTC
Uniswap Labs, the company behind Uniswap, has settled the charges and will pay a $175,000 fine per the CFTC announcement.
U.S. regulator the Commodity Futures Trading Commission (CFTC) has hit Uniswap Labs, the company behind Ethereum decentralized exchange Uniswap, with an order for allegedly illegally offering leveraged or margined retail commodity transactions in digital assets.
The order, which the regulator said was settled, requires Uniswap Labs pay a $175,000 civil monetary penalty and to cease and desist from violating the Commodity Exchange Act (CEA).
"DeFi operators must be vigilant to ensure that transactions comply with the law," CFTC director of enforcement Ian McGinley said in a statement.
This is a breaking news story and will be updated.
Source: decrypt.co
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