Minarik’s immediate challenges include navigating the legal landscape as Uniswap Labs faces heightened scrutiny from the SEC.
Renowned decentralized platform Uniswap Labs has appointed Katherine Minarik, a former legal executive at Coinbase, as its new Chief Legal Officer (CLO). This follows the announcement that former CLO Marvin Ammori will transition to a part-time role in the company. Minarik assumed her new role on Monday, as revealed in a post on social media platform X (formerly Twitter).
Minarik’s appointment follows closely on the heels of the Securities and Exchange Commission’s (SEC) indication that it may pursue legal action against Uniswap Labs over the concerns of misuse of its popular decentralized exchange (DEX).
Minarik joins Uniswap Labs after a four-year tenure at Coinbase, where she most recently served as Vice President of Legal and Deputy General Counsel. Reflecting on her new position, she expressed her enthusiasm for the potential of decentralized finance (DeFi).
“It is impossible to spend time in crypto and not be inspired by the potential of DeFi to change the world,” Minarik stated on X. “I am humbled to be taking on this new role at Uniswap Labs, continuing another part of the fight for economic inclusion and the future of finance for all of us.”
She also conveyed her gratitude towards Uniswap founder Hayden Adams and COO Catherine Lader for entrusting her “to defend and advocate for [the] industry, and to help build a future we cannot yet even imagine”.
Notably, Minarik steps into the position previously held by Marvin Ammori, who announced he would be transitioning to a part-time role focused on global public policy for DeFi from November this year.
Regulatory Challenges
Minarik’s immediate challenges include navigating the legal landscape as Uniswap Labs faces heightened scrutiny from the SEC. The agency has been investigating the company since 2021, examining the operations of its decentralized exchange and its native token, UNI, on grounds of a potential security law violation.
In April, the SEC issued a Wells Notice to Uniswap Labs, signaling a possible enforcement action. The notice accused Uniswap Labs’ protocol of functioning as an unregistered securities exchange, among other regulatory concerns.
For context, the Wells Notice serves as a formal indication that a regulator has considered enforcement action after an investigation. It gives the company time and room to respond by presenting its case before the SEC may initiate legal action.
Uniswap Labs has contested the SEC’s allegations, arguing that its DEX and UNI token do not constitute securities and therefore do not fall under the same regulatory requirements. The company has emphasized that the SEC’s claims overlook the true nature and function of the platform’s use of commodities.
As Minarik takes on this new role, she will be at the forefront of Uniswap Labs’ efforts to address these regulatory challenges and defend its operations.
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