Uniswap Foundation: Free conversion will still be implemented despite the Wells Notice issued by the US SEC

Golden Finance reports that the Uniswap Foundation stated that it will still implement free conversions despite the Wells Notice issued to it by the U.S. Securities and Exchange Commission (SEC). Uniswap Labs claims that under current legal classifications, the SEC does not have the authority to regulate its decentralized protocol. It is reported that Uniswap’s response is very timely because the “21st Century Financial Innovation and Technology Act” will be voted on in the House of Representatives after passing the Senate vote. This bill may change the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission (CFTC)’s approach to cryptocurrencies. method of supervision. According to Uniswap, if the proposal for a new fee mechanism is approved at the end of this month, control of the mainnet Uniswap V3Factory will be transferred to the specially designed new V3FactoryOwner contract, marking a milestone in Uniswap’s decentralized governance.