Is Uniswap legal in the USA?

Uniswap, a decentralized trading protocol, has faced legal challenges from the U.S. Securities and Exchange Commission (SEC), which issued a Wells Notice to Uniswap Labs. The notice indicates possible enforcement action over concerns that Uniswap may be operating as an unregistered securities exchange or broker. This raises questions about the legality of Uniswap's operations in the USA, particularly regarding its compliance with securities laws.