Uniswap Foundation: Free conversion will be implemented despite the Wells Notice issued by the US SEC

The Uniswap Foundation said that despite the Wells Notice issued by the US Securities and Exchange Commission (SEC), free conversion will be implemented. Uniswap Labs claims that under the current legal classification, the SEC has no right to regulate its decentralized protocol. It is reported that Uniswap's response this time is very timely because the 21st Century Financial Innovation and Technology Act will be voted on in the House of Representatives after passing the Senate vote. The bill may change the way the SEC and the CFTC regulate cryptocurrencies. According to Uniswap, if the proposal for a new fee mechanism is approved at the end of this month, control of the mainnet UniswapV3Factory will be transferred to a specially designed new V3FactoryOwner contract, marking a milestone in Uniswap's decentralized governance. (Cointelegraph)

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