SEC Drops Investigation into Uniswap Labs, Signals Regulatory Change
The SEC has closed its investigation into Uniswap Labs, leading to a temporary increase in the UNI token's price. This follows the recent launch of the v4 upgrade and the Unichain mainnet. Despite ongoing market bearishness, Uniswap CEO Hayden Adams commented on the need for new regulations tailored for decentralized finance (DeFi).
- The SEC had issued a Wells Notice last year, alleging Uniswap Labs operated as an unregistered broker and exchange.
- After a year-long investigation, the case was dropped without enforcement actions.
- This outcome is viewed as a significant win for DeFi and reflects a shift in regulatory approach under new SEC leadership.
- Other cases against Coinbase, Opensea, and Robinhood have also been dismissed recently.
- Following the SEC announcement, UNI’s daily trading volume increased by over 140%.
- Despite this, UNI's value has decreased by 30% over the past month.
Adams emphasized that decentralized technology requires distinct regulations separate from traditional finance. The SEC's changing stance suggests a reevaluation of cases from former Chair Gary Gensler's term, highlighting the urgency for a new legal framework accommodating the crypto landscape.