SEC Drops Uniswap Investigation

The Securities and Exchange Commission (SEC) is dropping its investigation into the Uniswap crypto exchange, sources tell The Wall Street Journal. In April 2024, the regulator issued a lawsuit against Uniswap, one of several crypto exchanges it took action against in 2024. However, with a new regime of the SEC in charge, the investigation is being dropped.

JUST IN:SEC drops Uniswap investigation.

Under the Donald Trump presidential administration, the SEC has had a softer stance on the crypto industry as a whole. With the new US President being “pro-crypto,” he has ensured that members of the regulatory committee also have a similar stance. The SEC has officially concluded its investigation into Uniswap and doesn’t plan to move forward with any enforcement actions, sources told WSJ Tuesday.

SEC Continues Ending Anti-Crypto Investigations

The move isn’t the first the “new” SEC has made that counters its previous work against the crypto industry. Indeed, on Monday the regulator agreed to drop an investigation into Robinhood’s crypto unit. Additionally, last week, regulators agreed to drop a lawsuit against Coinbase that sought to regulate the crypto marketplace like a stock exchange.

In response to the SEC closing its investigation, Uniswap says that this is “a huge win for DeFi.” The exchange’s latest blog post reads: “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.”

Furthermore, Uniswap went on to thank the “new SEC,” for its decision. “We appreciate that the SEC’s new leadership is taking a close look at the pending enforcement investigations and litigations across our industry, not just our own, and has recognized that there is a more effective path to protecting American consumers. The conclusion of our investigation is not only welcome – and just – relief for Uniswap Labs, but also for the broader DeFi community of builders, users, and developers working toward a better financial system for all of us.”

Uniswap’s UNI token is down 10% in the last week but is already beginning a slight reversal in the last hour alone.