The US SEC ends its investigation into Uniswap
The US SEC has completed its investigation of Uniswap Labs, which caused a quick rise in the UNI token price. This is positive news for Uniswap, especially after launching its v4 upgrade and the Unichain mainnet. Uniswap’s CEO, Hayden Adams, believes that traditional financial rules do not fit decentralized finance (DeFi) and that new laws are necessary.
Last year, the SEC issued a Wells Notice to Uniswap Labs, accusing it of being an unregistered broker and issuing unregistered securities. Furthermore, this investigation was a significant legal hurdle for DeFi. However, after a year, the SEC decided to drop the case without taking any action. The crypto community viewed this as a major victory for Uniswap.
Adams expressed gratitude to the new SEC leaders for their collaboration. He aims to work with Congress and regulators to create smart policies for DeFi. The Uniswap case reflects a broader change at the SEC since the new administration took over. The Commission has been reducing its enforcement actions in the crypto space, recently dropping cases against Coinbase, Opensea, and Robinhood.
Following the SEC’s announcement, the UNI token saw a brief price increase, but it has since fallen by 30% over the past month. The launches of Uniswap v4 and Unichain did not significantly affect the token’s price. However, UNI’s daily trading volume surged by over 140% after the SEC news.
Adams emphasized that decentralized technology requires different regulations compared to traditional finance.
