SEC Drops Investigation into Uniswap Labs
The US Securities and Exchange Commission (SEC) has officially closed its investigation into Uniswap Labs, stating that it will not be taking any enforcement action against the company. This development marks a significant victory for the decentralized finance (DeFi) sector, with Uniswap describing it as a “huge win for DeFi.”
Background
- The SEC had issued a Wells Notice to Uniswap Labs in April 2024, alleging that the platform operated as an unregistered broker, ran an exchange, and issued an unregistered security.
- Uniswap responded with a detailed 40-page rebuttal contesting the SEC’s claims.
Other Cases Resolved
In addition to Uniswap Labs, the SEC has also dropped investigations into other cryptocurrency entities:
- Coinbase recently announced that the SEC had dismissed its lawsuit against the exchange, following a settlement that did not include any financial penalties.
- Robinhood Crypto’s digital assets arm also saw the SEC close its investigation without any enforcement action.
Pro-Crypto Shift at the SEC
The SEC’s change in stance towards these cryptocurrency companies coincides with a broader pro-crypto approach since Donald Trump assumed office as the US President. This shift raises expectations regarding the resolution of the SEC’s ongoing case against Ripple, which dates back to 2020.
Overall, the recent developments indicate a more favorable regulatory environment for the cryptocurrency industry, with companies like Uniswap, Coinbase, and Robinhood Crypto seeing positive outcomes in their interactions with the SEC.
