The US Securities and Exchange Commission (SEC) has officially closed its investigation into Uniswap Labs without taking enforcement measures, according to a 25 February rack.
The research, which started more than three years ago, was aimed at accusations that Uniswap Labs operated as a non -registered broker, exchange and clearing agency and gave a non -registered security.
Uniswap Labs characterized the outcome as a victory for Defi, strengthening the argument that decentralized technology works within the legal framework.
In April, the SEC issued a wells knowledge to Uniswap laboratories that describe potential costs based on claims that the company is involved in non -registered securities activities. The investigation was closed this week and no further legal action is planned.
Jake Chervinsky, Chief Legal Officer at Variant Fund, Congratulations Uniswap about a “clean bill or health of the SEC”, adding that “it is a travesty” that large crypto players waste time and resources to combat regulatory scope.
After the news, Uniswap’s Governance token uni jumped around 5% from $ 7.87 to $ 8.28 based on CryptoSlate facts.
Regular implications
During the investigation, Uniswap Labs claimed that it does not work as a broker, that the Uniswap protocol does not constitute an exchange or opening agency under American securities legislation, and that uni is not security.
Hayden Adams, founder of Uniswap, criticized The first approach of the SEC, which it describes as part of a broader pattern of regulatory enforcement that is randomly applied to Defi projects without clear legal grounding.
Adams argued that the SEC tried to impose a regulation framework designed for centralized financial institutions on decentralized networks. This mismatch does not recognize the structural differences between the two systems.
He further emphasized that self -custodied funds and self -executing smart contracts on public blockchains offer transparency that is not present at traditional financial (trandfi) markets, making existing regulatory approaches not suitable for Defi.
According to Adams:
“This is a huge victory, not only for Uniswap laboratories, but also for Defi as a whole. It again confirms what we have always said: those decentralized technology and self -coasts are inherently different from the centralized, mediated systems that they want to replace. “
He noted that the investigation had put a significant financial and operational burden on the company, had abandoned resources and caused stress that is related to federal investigation. Adams described the experience as an emblematic for a broader problem in which the research process serves as a punitive measure that discourages innovation within the US.
Looking ahead, Adams expressed optimism about working with the congress and regulatory authorities to draw up clear rules that are tailored to Defi. He noted that emerging regulations perspectives within SEC seem to shift to a more constructive approach.
However, he also repeated the need for legal frameworks that recognize the unique nature of decentralized financial technologies and at the same time promote transparency, access and innovation.