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Uniswap is struggling to emerge from the scrutiny of US regulators. It looks like the New York State Attorney General Letitia James is following the footsteps of the SEC chairperson Gary Gensler, when it comes to crypto. During the previous month, some venture capital firms who have invested in Uniswap received summons from James' office.
Uniswap agreed to settle the charges with the CFTC by paying a $175,000 civil penalty.
The Commodity Futures Trading Commission (CFTC) has reached a settlement with Uniswap Labs, the company behind the Ethereum-based decentralized exchange Uniswap.
On September 4, the CFTC announced that Uniswap Labs had agreed to settle the charges. As part of the settlement, the company will pay a civil penalty of $175,000 and has committed to ceasing any activities that violate the Commodity Exchange Act (CEA).
Popular decentralized finance (DeFi) tokens were among the market's top gainers Wednesday on the back of significant developments in their respective spheres. What happened: The native token of leading lending and borrowing capital Aave pumped over 7% to become the second-best performing cryptocurrency in the last 24 hours.
The CFTC charged Uniswap with offering "illegal" leveraged tokens. Two CFTC Commissioners, Caroline Pham and Summer Mersinger, expressed their dissent against the regulatory order.
Uniswap has been hit with a $175,000 fine by the Commodity Futures Trading Commission (CFTC). The charge?
The US Commodity Futures Trading Commission settled charges with Uniswap early today to the tune of $175,000.
Uniswap (UNI), the governance token of the decentralized finance protocol on Ethereum, has posted impressive gains over the past seven days. The recent settlement with the Commodities Futures Trading Commission (CFTC) further contributed to the overall positive outlook.
TL;DR The CFTC has imposed a $175,000 fine on Uniswap Labs for allegedly offering digital asset derivatives illegally. According to the investigation, the protocol facilitated leveraged digital asset trading that violated physical delivery regulations under the Commodity Exchange Act (CEA). Despite the fine and cease-and-desist order, UNI token has risen 5% to $6.
The Commodity Futures Trading Commission (CFTC) is filing charges against the firm behind Uniswap (UNI), alleging that it offered illegal crypto derivatives contracts.
The Commodity Futures Trading Commission (CFTC) has issued an order against Uniswap Labs (CRYPTO: UNI), settling charges related to illegal offerings of digital asset derivatives trading. The agency fined the Delaware-based company, operating out of New York, $175,000.
On Wednesday, Uniswap Labs, the company behind the decentralized cryptocurrency exchange Uniswap, was fined $175,000 by the Commodity Futures Trading Commission (CFTC) for allegedly offering leveraged retail trading in digital assets without proper authorization.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
Commissioner Summer K. Mersinger voiced strong opposition to the Commodity Futures Trading Commission's (CFTC) decision to fine Uniswap Labs $175,000 for offering illegal digital asset derivatives trading.
Uniswap Labs has agreed to pay a $175,000 fine to settle allegations of the Commodity Exchange Act (CEA) violation. The US Commodity Futures Trading Commission (CFTC) issued a warning to Uniswap Labs, citing concerns over illegal trading practices involving cryptocurrency derivatives.
One CFTC commissioner dissented, calling the action “regulation by enforcement.”
The Commodity Futures Trading Commission (CFTC) has sanctioned Uniswap Labs, the company behind the popular decentralized trading platform Uniswap, for illegally offering leveraged and margined retail commodity transactions in digital assets.
The Commodities Futures Trading Commission (CFTC) issued an order against Uniswap on Wednesday, imposing a $175,000 settlement fee.
"We don't wish the burden of unnecessary subpoenas on anyone," a spokesperson for Uniswap told CoinDesk.
Uniswap Labs settlement was issued a $175,000 fine for violations of the Commodity Exchange Act alleged by the CFTC.
Cryptocurrency prices remained on edge on Wednesday, Sep. 4, as sentiment in the financial market worsened.
Uniswap's native token, UNI, has seen a significant boost, jumping 5.72% in just the last 24 hours.
The Commodity Futures Trading Commission (CFTC) has fined Universal Navigation Inc., operating as Uniswap Labs, $175,000 for illegal trading practices. The decentralized finance (defi) protocol operator was found in violation of the Commodity Exchange Act (CEA) for offering leveraged retail commodity transactions without proper registration.
