The UniSwap team has demonstrated its resilience in the face of legal hurdles posed by the US securities regulator.
UniSwap is a popular decentralized crypto trading platform known for supporting the Ethereum blockchain network and other layer 2 scale networks.
On May 25, 2024, the UniSwap team announced that they will be holding an on-chain vote on May 31. The Uniswap Foundation stated that this vote aims to establish a system for automatically collecting and distributing fees. More votes are needed to collect fees in Uniswap V3 pools.
It is worth noting that despite a warning from the US Securities and Exchange Commission (SEC) about UniSwap crypto services, the UniSwap team aimed to maintain a positive growth momentum with their services.
Following this news, the trading price of the UniSwap token (UNI) rose rapidly. The current trading price of Uni-token is $10.84, which is 20% high in the last 24 hours.
UniSwap vs. SEC
Just a few weeks ago, the US SEC sent a notice from Wells against UniSwap’s crypto services. The focus was on the security nature of digital asset trading on the UniSwap platform.
Three days ago, the UniSwap team responded against Wells’ notice, stating that the SEC body had made “weak” legal arguments in issuing Wells’ notice to the exchange while strongly saying that UniSwap is ready to fight.
With the response, the UniSwap team also said that they will not go back because it is a time to fight for the Defi crypto sector.
Also read: New tweet from Elon Musk pumps Dogecoin (Doge) by 10%
