Uniswap Receives Wells Notice From the SEC; State of Crypto Regulation in Dubai
“CoinDesk Daily” host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as decentralized crypto exchange Uniswap received an enforcement notice from the U.S. Securities and Exchange Commission (SEC). Plus, Grayscale’s bitcoin ETF saw a record-low daily outflow of $18 million and Dubai’s virtual assets regulator looks for ways to reduce compliance costs for small crypto firms.
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Unis swap receives enforcement action from the sec and grease scales. ETF logs record low outflows. You’re watching Coin Desk daily, I’m your host, Jen Sani I Exchange Unis Wap has received an enforcement notice from the SEC CEO Hayden Adams took to X on Wednesday to say the exchange is ready to fight after receiving notice that the regulator is planning an enforcement action. Unis Native Token Uni dropped 9.5% immediately after the news as of 9:30 a.m. Eastern time, Uni was at $9.30. Adam said he wasn’t surprised by X. He said he was just annoyed, and disappointed. As I said before, ready to fight Wells, notices are preliminary warnings that inform respondents of the charges. The regulator is considering bringing against them. They usually lead to enforcement actions in a press conference.
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Unis A CEO and chief legal officer told reporters that the content of the Wells notice was focused on Unis A acting as an unregistered securities broker and unregistered Securities exchange, Greyscale Bitcoin ETF logged around $18 million in outflows on Wednesday. A record-low figure since it went live in January. According to X posts by BMX research and farside investors. The figures come a day after Greyscale CEO Michael Sonnenschein said he sees outflows as reaching an equilibrium. A selling activity connected to settlements of bankrupt crypto companies like FTX was largely behind us. The G BT C product has hemorrhaged nearly $15 billion in Bitcoin outflows since going live and has almost consistently seen outflows every week. And Dubai’s virtual assets, Regulatory Authority is investigating ways to lower costs for firms to comply with its rules.
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Matthew White CEO of the regulator said quote, there’s a number of things that I’m looking at at the moment in order to try and make the regime and the regulation fit for everybody. He said that at Paris Blockchain Week V AA is the sole digital assets regulator in the Emirates, one of seven that make up the United Arab Emirates. Dubai unveiled its rules for crypto last year which were generally welcomed while some worried that costs would be expensive. That’s it for the coin desk daily. Get more updates on coindesk.com and we’ll see you next time.
