The US Securities and Exchange Commission is reportedly looking into the entity operating the global top-tier decentralized cryptocurrency exchange, Uniswap.

Specifically, the regulatory agency from America has reportedly released a probe into Uniswap’s main developer, Uniswap Labs, as disclosed by the Wall Street Journal. 

The report additionally revealed that enforcement attorneys are reportedly investigating the data detailing Uniswap’s marketing and investor services, citing anonymous sources familiar with the matter.

“[The firm is] committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.” A Uniswap representative reportedly remarked amid the ongoing situation. 

Uniswap reportedly functions as a decentralized exchange, offering facilitating features for swapping between Ethereum-powered coins and tokens without the involvement of a central force.

The exchange is currently standing at the top spot on the list of most major decentralized exchanges, with a $1.5-billion trading volume over the past 24 hours at the time of writing, per insights generated by CoinMarketCap. 

This update reportedly surfaced during the time the U.S. regulators are employing a closer watch on the DeFi sphere, with SEC chairman Gary Gensler revealing in August details of the authority’s plans for extra crypto-centric legislations, focusing on DeFi, token offerings, and stablecoins.

Last month, the US SEC reportedly formed a partnership with blockchain analytics entity AnChain.AI via a $125,000 agreement, to acquire tech assistance in monitoring and regulating the DeFi sector.