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The Commodity Futures Trading Commission has issued an order against one of the leading DeFi protocols in the crypto-space – Uniswap Labs. The enforcement agency took a hit at the crypto-focused platform because it “illegally offered leveraged or margined retail commodity transactions in digital assets via a a decentralized digital asset trading protocol.”
As a result, the CFTC has imposed a penalty of $175,000 and ordered the platform to cease and desist from further violating the Commodity Exchange Act. Ian McGinley, the Director of Enforcement, said,
“Today’s action demonstrates once again the Division of Enforcement will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve”
The story is still developing.
