Regulators investigate DeFi exchange developer Uniswap Labs on protocol functions: WSJ

The U.S. Securities and Exchange Commission has started an investigation on cryptocurrency exchange startup Uniswap Labs to find out how investors use the platform and how it's marketed, the Wall Street Journal reports. SEC Chairman Gary Gensler has been skeptical about the world of DeFi, especially on exchanges that facilitate the trading and creation of digital assets that need to be registered with the SEC. "It doesn't matter whether it's a stock token, a stable-value backed by securities or any other virtual product that provides synthetic exposure to underlying securities," WSJ reports, Gensler told the Aspen Security Forum. Uniswap is the main developer of the largest decentralized exchange - a part of the digital asset market that has resisted regulatory oversight. It writes a computer code that powers projects like automation of financial activities like trading and lending using cryptos, which operates on the internet as "protocols". Still, developers typically