• Uniswap's agency refutation of the SEC's allegations shocked the crypto market.
• Following the information of the tough response, Uniswap (UNI) worth rose to a excessive of $9.67.
• As the value of UNI rises, one other new altcoin Kangamoon (KANG) can be making waves with its pre-sale approaching $7 million.

Uniswap (UNI) worth is surging following Uniswap Labs' sturdy response to the SEC's Wells discover. The token fell barely, however surged greater than 30% instantly after information of the response broke.

This response not solely strengthened investor confidence within the decentralized finance (DeFi) area, but additionally ignited optimistic sentiment in the direction of different altcoins resembling Kangamoon (KANG), which is presently on pre-sale. .

40-page response to the SEC's Wells discover

Uniswap Labs has filed a complete 40-page response to the SEC's Wells Discover, vigorously contesting the SEC's claims that Uniswap's operations might violate U.S. securities legal guidelines.

Decentralized cryptocurrency exchanges opposed the potential lawsuit and requested the SEC to rethink its place. Uniswap responded by labeling the SEC's claims as “weak” and citing court docket rulings that contradict the SEC's authorized arguments.

Moreover, Uniswap disputes the SEC's expansive interpretation of securities legal guidelines, emphasizing that the SEC's claims are based mostly on unwarranted expansions of key definitions resembling securities, exchanges, and contracts.

The platform additionally states that, in keeping with the SEC's personal requirements, nearly all of its buying and selling quantity doesn’t contain securities, most of its customers are outdoors the US, and it might be exempt from U.S. securities legal guidelines. He additionally emphasised that there’s.

A brand new meme coin making waves with Uniswap (UNI)

As Uniswap continues its authorized battle with the SEC, one other challenge, Kangamoon, is making waves within the cryptocurrency business with its distinctive method to meme cash and group engagement.

Kangamoon goals to determine itself as a distinguished meme coin whereas integrating parts of SocialFi and Play To Earn (P2E).

The challenge guarantees an immersive gaming expertise the place gamers can participate in challenges and contests to earn rewards within the type of $KANG tokens and unique NFTs.

Presently within the pre-sale stage, Kangamoon has already raised a big quantity of funding, approaching $7 million.

Specifically, the pre-sale offers early traders with the chance to amass $KANG tokens at favorable costs earlier than the official launch of the platform. It has attracted consideration from traders and fans alike, drawn to its modern idea and potential for community-driven progress.

Kangamoon presale members can look ahead to receiving their tokens after the presale ends.

The challenge staff ensured that detailed directions for claiming tokens can be supplied by means of varied channels such because the official web site, social media platforms, newsletters, and Telegram.

conclusion

The sharp rise in Uniswap (UNI) worth following Uniswap Labs’ response to the SEC’s Wells Discover has introduced optimism to the crypto market and benefited tasks like Kangamoon, the place pre-sales are underway.

Each crypto tasks have overcome regulatory challenges and strived to succeed, demonstrating the resilience and innovation inherent within the crypto area.