SEC drops case against Uniswap, marking a “huge win for DeFi” – Crypto News – Crypto News
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SEC drops case against Uniswap, marking a “huge win for DeFi” SEC drops case against Uniswap, marking a “huge win for DeFi”

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SEC drops case against Uniswap, marking a “huge win for DeFi” – Crypto News

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1 year ago

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  • Coinbase and Robinhood Crypto have also had their investigations dropped by the SEC
  • Uniswap said it was a “huge win for DeFi”
  • The move comes as the SEC undergoes a pro-crypto change of direction since US President Donald Trump took over office

The US Securities and Exchange Commission (SEC) has dropped its investigation into Uniswap Labs.

In a February 25 post on X, Uniswap Labs said the agency had closed the investigation into Uniswap and that it was “taking no enforcement action,” adding:

“This is a huge win for DeFi and reaffirms what we’ve always known – that the technology we build is on the right side of the law, and our work is on the right side of history.”

In April 2024, the SEC issued a Wells Notice to Uniswap, claiming that the platform operated as an unregistered broker, operated an exchange, and issued an unregistered security. Uniswap followed this up with a 40-page response contesting the agency’s claims.

More cases dropped

The news from Uniswap Labs comes as Coinbase announced last week that the SEC had agreed to dismiss its lawsuit against the exchange.

According to Coinbase, the regulator’s decision to withdraw the case follows a settlement that does not involve any financial penalty against Coinbase.

Robinhood Crypto has also seen the tide change after the SEC dropped its investigation into Robinhood’s digital assets arm. On February 24, the platform said in a blog that the SEC had “concluded its investigation and did not intend to move forward with an enforcement action.”

Dan Gallagher, chief legal officer of Robinhood Markets, said: “We applaud the staff’s decision to close this investigation with no action.”

The change of direction at the SEC comes amid a pro-crypto approach following US President Donald Trump’s taking office in the White House. Many are now waiting to see whether the SEC’s ongoing case against Ripple will soon be concluded.

In 2020, the agency first sued Ripple, Chris Larsen, co-founder of Ripple, and Brad Garlinghouse, Ripple’s CEO, after alleging that they raised $1.3 billion through the sale of XRP, an unregistered securities offering.

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