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Today is not a good day for UNI Coin as bad news keeps coming. Crypto investment companies are facing court summons. Following the CFTC’s announcement about Uniswap’s rule violations about an hour ago, two crypto VC firms are now being summoned to court.
UNI Coin News
According to sources familiar with the matter, the New York Attorney General has summoned a16z and Union Square Ventures to court. The court summons is a move that could frighten investment companies amid the legal battle initiated for Uniswap. According to two sources, other companies investing in Uniswap besides Andreessen Horowitz and Union Square Ventures have also received court summons.
SEC and other regulatory bodies in the U.S. argue that the DeFi sector is not as decentralized as marketed. This could put companies that significantly invest in protocols at risk due to their interest in protocols that raise funds, issue securities, or facilitate trading in violation of rules.
Uniswap spokesperson expressed dissatisfaction with the harassment of their investing companies through unnecessary court summons. Following the 2022 collapse, crypto lawsuits accelerated in the U.S. with the promise to prevent a collapse similar to the FTX incident. However, a significant portion of crypto investors accuse U.S. institutions of trying to discipline the sector through enforcement rather than “appropriate, comprehensive rules.” This was also expressed by Trump and some SEC members.
