Uniswap Labs Celebrates Victory: SEC Closes Investigation Without Consequences

Uniswap Labs, the driving force behind the largest decentralized trading platform on Ethereum (ETH) Uniswap (UNI), received good news on Tuesday: the US Securities and Exchange Commission (SEC) has concluded its investigation into the company without enforcement actions. After a period of tension, this seems to be a turning point for both Uniswap and the broader DeFi sector.

Uniswap’s legal battle ends in peace

In April 2024, the SEC began scrutinizing Uniswap Labs with a Wells Notice, a warning of potential legal action. The agency accused Uniswap of operating as an unregistered broker and exchange, and claimed it had issued unregistered securities. Uniswap Labs fought back, insisting it was fully compliant with the law. In a statement following the closure of the investigation, the company expressed relief:

“The technology we build makes markets more transparent, efficient, and accessible. This decision confirms our compliance and commitment to clarity.”

This outcome is not only a victory for Uniswap, but also a sign of a softer wind blowing through the SEC under new leadership.

A new SEC approach: From enforcement to dialogue

Under the Trump administration, the SEC appears to be moving away from its “regulation by enforcement” strategy, which has plagued the crypto sector for years. This is not only evident with Uniswap: investigations into Robinhood and OpenSea were also closed without action, and the case against Coinbase seems to be on the verge of termination. This shift suggests a broader, more cooperative regulatory landscape for digital assets.

Uniswap Labs is seizing this opportunity and says it is open to “constructive dialogue” with regulators to forge clear, innovation-friendly rules. The company concludes with:

“This is not only good for us, but for the entire ecosystem of builders, developers, and users working towards a better financial system.”