CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment.
Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether.
watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated.
"The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said.
Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.
Persons:
Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith
Organizations:
Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood
Locations:
U.S, Lubin, New Jersey, ethereum, R