The UNI price surged more than 8% today, before witnessing a slight retreat after the US CFTC slapped Uniswap Labs with a settlement fine. In a recent update, the US Commodity Futures Trading Commission (CFTC) has issued an order against the firm for illegal digital assets derivatives trading. According to the filing, the crypto firm is required to $175,000 in penalty to settle the regulatory charges.

CFTC Cracks Down On Uniswap Labs

The CFTC has issued an order against Uniswap Labs in a recent enforcement action. According to the filing, the regulators accused the firm of facilitating illegal leveraged and margined retail commodity transactions through its decentralized trading protocol.

Meanwhile, the agency claimed that the company, under the name Universal Navigation Inc., enabled the trading of digital assets through liquidity pools without complying with crucial guidelines.

The post Breaking: UNI Price Rockets As CFTC Slaps Uniswap Labs With $175K Settlement Fine appeared first on CoinGape.

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