The UNI price surged more than 8% today, before witnessing a slight retreat after the US CFTC slapped Uniswap Labs with a settlement fine. In a recent update, the US Commodity Futures Trading Commission (CFTC) has issued an order against the firm for illegal digital assets derivatives trading. According to the filing, the crypto firm is required to $175,000 in penalty to settle the regulatory charges.
CFTC Cracks Down On Uniswap Labs
The CFTC has issued an order against Uniswap Labs in a recent enforcement action. According to the filing, the regulators accused the firm of facilitating illegal leveraged and margined retail commodity transactions through its decentralized trading protocol.
Meanwhile, the agency claimed that the company, under the name Universal Navigation Inc., enabled the trading of digital assets through liquidity pools without complying with crucial guidelines.
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Rupam Roy
Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.
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