In a current order released by the U.S. Commodity Futures Trading Commission (CFTC), Uniswap Labs was fined $175,000 for using prohibited digital possession derivatives trading.
This case particularly focused on Bitcoin and Ethereum leveraged tokens that were considered leveraged or margined product deals.
According to the CFTC, these tokens were not provided within 28 days and therefore might just be lawfully provided on a CFTC-registered board of trade, which Uniswap Labs was not.
新地址 0x536 … d3132 正在大额囤积 UNI ！ 三小时前从 # Coinbase 提出 141 万枚 UNI ， 价值 912 万美金
面对 CFTC(美国商品期货交易委员会) 对 Uniswap 的指控 ， 昨晚公布最终只需缴纳 17.5 万美元罚款 ， 使得 $UNI 短时突破 $6.65 目前已回落至 $6.4
钱包地址 https://t.co/eAzJosCALZ pic.twitter.com/YA9uCnzQJM
— Ai 姨 (@ ai_9684xtpa) September 5, 2024
Regardless of the fine, the phrasing of the CFTC's order seems fairly bullish for Uniswap and the more comprehensive DeFi neighborhood. Instead of pursuing extreme charges, the CFTC acknowledged Uniswap Labs' “considerable cooperation” in the examination, resulting in a decreased civil charge. This signifies a possible shift from hostile enforcement to gratifying cooperation with lighter repercussions, which might bode well for future regulative interactions with DeFi jobs.
Breaking: Bullish settlement! @ CFTC Issues order versus @ Uniswap for using prohibited digital possession derivatives trading.$175k fine enforced. Case dropped.
IMO: Wording is bullish and a modification from hostile enforcement to rewarding “cooperation” with light fines.
This related … pic.twitter.com/M59JJWYZfL
— MartyParty (@ martypartymusic) September 4, 2024
Uniswap's UNI Token Price Action To Monitor
In action to the fine, UNI, the native token of Uniswap, briefly rose to $6.65 before pulling back to $6.40. The marketplace's response appears positive, showing that financiers view the fine as a workable result, specifically offered its fairly low quantity.
Even more sustaining market speculation is an on-chain report revealing a brand-new wallet address (0x536 … d3132) hoarding big quantities of UNI. Simply 3 hours earlier, the address withdrew 1.41 million UNI from Coinbase, valued at over $9.12 million.
In general, while the fine may appear like an obstacle, Uniswap's fast resolution with the CFTC and the marketplace's favorable response recommend that the decentralized exchange is poised to progress, with financiers seeing this as a little misstep instead of a considerable challenge.
Disclosure: This is not trading or financial investment recommendations. Constantly do your research study before purchasing any cryptocurrency or investing in any services.
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