SEC Drops Uniswap Investigation

The Securities and Exchange Commission (SEC) is dropping its probe into the Uniswap crypto exchange, sources archer The Wall Street Journal. In April 2024, the regulator issued a suit against Uniswap, 1 of respective crypto exchanges it took enactment against successful 2024. However, with a caller authorities of the SEC successful charge, the probe is being dropped.

JUST IN: SEC drops Uniswap investigation.

Under the Donald Trump statesmanlike administration, the SEC has had a softer stance connected the crypto manufacture arsenic a whole. With the caller US President being “pro-crypto,” helium has ensured that members of the regulatory committee besides person a akin stance. The SEC has officially concluded its probe into Uniswap and doesn’t program to determination guardant with immoderate enforcement actions, sources told WSJ Tuesday.

SEC Continues Ending Anti-Crypto Investigations

The determination isn’t the archetypal the “new” SEC has made that counters its erstwhile enactment against the crypto industry. Indeed, connected Monday the regulator agreed to driblet an probe into Robinhood’s crypto unit. Additionally, past week, regulators agreed to driblet a suit against Coinbase that sought to modulate the crypto marketplace similar a banal exchange.

In effect to the SEC closing its investigation, Uniswap says that this is “a immense triumph for DeFi.” The exchange’s latest blog station reads: “The SEC’s determination this week reaffirms what we’ve ever known. Uniswap Labs operates successful afloat compliance with each applicable laws. The exertion we physique makes markets much transparent, efficient, and accessible.”

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Furthermore, Uniswap went connected to convey the “new SEC,” for its decision. “We admit that the SEC’s caller enactment is taking a adjacent look astatine the pending enforcement investigations and litigations crossed our industry, not conscionable our own, and has recognized that determination is simply a much effectual way to protecting American consumers. The decision of our probe is not lone invited – and conscionable – alleviation for Uniswap Labs, but besides for the broader DeFi assemblage of builders, users, and developers moving toward a amended fiscal strategy for each of us.”

Uniswap’s UNI token is down 10% successful the past week but is already opening a slight reversal successful the past hr alone.