SEC, cryptocurrencies Although it is known for its aggressive litigation, it is not the only regulatory agency in America. CFTC also detects violations in the futures field and takes action. The institution has just issued an order for Uniswap. A fine of $ 175,000 and the termination of the violation is requested.
Uniswap (UNI) and CFTC
The biggest DeFi Uniswap, one of its platforms, is currently powered by Uniswap Labs. The DeFi platform, which enables leveraged trading, is doing so without permission and in violation of its rules, according to the CFTC. It must pay a fine of $175,000 and stop violating the Commodity Exchange Act (CEA) as accused. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
CFTC Enforcement Director Ian McGinley said:
“Today’s action further demonstrates that the Enforcement Division will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve. DeFi platforms must be vigilant to ensure that the services they provide are compliant with the law.”
UNI Coin price After falling below $6.2, it has returned to $6.45. Uncertainty about how it will comply with the rules and whether US citizens will be denied access to the protocol could increase volatility in the coming hours.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
