Uniswap Labs to pay a fine to CFTC for illegally offering crypto derivatives trading. Uniswap Labs to pay $175,000 to CFTC for allowing the leverage trade of BTC and ETH.
The order has had little to no impact on the price of UNI, at press time 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.
Source:https://ambcrypto.com/bitcoin-ready-to-rally-stablecoins-hold-the-key-to-october-gains/ Show Less
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