The Securities and Exchange Commission (SEC) has apparently closed another investigation pursuing a digital asset entity. According to Uniswap Labs, the SEC has given notice that it will close the action after the multi-year investigation into its activities. Uniswap received a Wells Notice in the spring of 2024.
In a blog post, Uniswap said it had been accused of operating an unregistered exchange, broker, clearing activity, and issuing unregistered securities.
“The SEC’s decision this week reaffirms what we’ve always known. Uniswap Labs operates in full compliance with all applicable laws. The technology we build makes markets more transparent, efficient, and accessible.”
In the past years, the SEC told crypto firms to come in and register without offering regulatory clarity and an actual path to registration, thus creating an enigma for digital asset platforms that sought compliance. Uniswap said they appreciated the new leadership at the SEC which has recognized there is a better path to regulating crypto.
Uniswap stated that DeFi is the future of finance, which enables safe, transparent, and immediate trades without the need for an intermediary.
Recently, several other pending crypto investigations at the SEC have been dropped, including Coinbase and Robinhood Crypto. The dramatic difference between the Biden and Trump administrations can not be more stark. While the Trump Administration aims to pursue new rules to enable digital asset innovation, including tokenization, the Biden Administration sought to kill the technology before it could ever evolve.
