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UNI Uniswap founder Hayden Adams follows SEC Commissioner Hester Peirce's assessment report
Uniswap (UNI) founder Hayden Adams has drawn attention to the assessment made by U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce following the "innovation exemption" decision. The decision was announced by the U.S. Securities and Exchange Commission on September 17. According to Adams, the most important development of the day for automated market makers (AMM) was not the official decision of the SEC, but Peirce's handling of the decentralized system.
The SEC has granted a temporary and conditional exemption to a platform known as the Tokenized Securities Platform to allow certain tokenized U.S. stocks to be traded on-chain. The agency requires these platforms to meet specific transparency, record-keeping, transaction volume and technical security requirements. SEC Chairman Paul Atkins also said the regulatory measure will allow tokenized stocks to be traded on-chain in a licensed environment.
However, Adams emphasized the view used in the Peirce review that "a truly decentralized system run by autonomous software" would not expose intermediation risks under securities regulation. Adams believes that this treatment can be interpreted to mean that normal, permission-free use of Uniswap does not require additional exemptions. 
According to the founder of Uniswap, the exemption announced by the SEC is particularly important for the licensed pool on Uniswap v4. Adams said this structure could establish a path for compliant transactions in the United States for assets and users subject to regulatory requirements.
Adams noted that this development could create significant opportunities for traditional financial markets to adopt AMM technology, and announced that the Uniswap team will also submit an opinion to the SEC that will include recommendations for regulatory improvements.
This article does not constitute investment advice.
