Is Uniswap legal in the United States?

Uniswap, a decentralized trading protocol, has faced legal challenges in the United States. The Securities and Exchange Commission (SEC) has issued a Wells notice to Uniswap Labs, indicating potential enforcement action for violating securities laws. The main allegation is that Uniswap may have operated as an unregistered securities broker and exchange. This legal dispute highlights the regulatory uncertainty surrounding decentralized finance (DeFi) projects in the US.