Uniswap Labs Cites Chevron Decision in Urge for SEC to Drop DeFi Bid

Uniswap Labs has once again urged the U.S. Securities and Exchange Commission （SEC） to reconsider its proposal to regulate decentralized finance （DeFi） by citing a recent Supreme Court decision. This plea emphasizes the legal and practical challenges of the SEC’s proposed amendments.

Points

• Uniswap Labs cites a recent Supreme Court decision in its argument.
• The SEC’s proposed amendments face significant legal challenges.
• The proposal could lead to inconsistent regulations and judicial disputes.
• Uniswap requests reopening the comment period for public input.

Uniswap Labs, the developer behind the Uniswap decentralized exchange, has reiterated its call for the U.S. Securities and Exchange Commission （SEC） to drop its proposal to regulate decentralized finance （DeFi）. This request comes in light of a recent landmark Supreme Court decision, which Uniswap argues makes the SEC’s amendments legally untenable.

Supreme Court Decision Impact
Uniswap’s argument centers around the recent Chevron decision by the Supreme Court. This decision has significant implications for the SEC’s authority to amend the definition of “exchange” under the Exchange Act. According to Uniswap, the SEC’s proposed changes are likely to face legal challenges and are unlikely to withstand judicial scrutiny.

https://x.com/MinarikLaw/status/1810792364992253997

Practical Challenges and Resource Concerns
Uniswap Labs argues that the SEC’s proposed amendments would stretch the statutory text too far and lack clear limits, resulting in regulatory inconsistencies. The protocol also highlights the practical challenges of enforcing such broad amendments, which would likely require ongoing litigation on a case-by-case basis.

Call for Public Input
Uniswap has requested that the SEC reopen the comment period for its proposal to allow the public to consider the implications of the Chevron decision. This would enable stakeholders to provide feedback on the proposed amendments in the context of the new legal landscape.

解説

• Legal Implications: The Chevron decision significantly impacts the SEC’s ability to amend regulatory definitions, potentially undermining the proposed changes to DeFi regulation.
• Regulatory Inconsistencies: The broad scope of the SEC’s amendments could lead to inconsistent regulations and judicial challenges, complicating enforcement efforts.
• Public Engagement: Reopening the comment period would allow for greater public input and consideration of the recent Supreme Court decision, ensuring a more transparent regulatory process.
• Strategic Positioning: Uniswap’s proactive stance in citing the Chevron decision underscores its commitment to defending DeFi from regulatory overreach, positioning itself as a leading advocate for decentralized finance.