The United States Securities and Exchange Commission (SEC) has abandoned its investigation into Uniswap Labs, the Brooklyn based company behind the decentralized protocol of the same name, according to an announcement on Tuesday of Uniswap.
UNISWAP received a notice from Wells – essentially, a regulator’s warning informing the accusations that the SEC provides for them – last April, accusing the decentralized operating exchange as an unregistered and unregistered securities broker and the exchange of values not recorded. In subsequent blog articles and publications on social networks, the company and its managers defended the legality of UNISWAP operations and were committed to fighting against the pending charges.
The company celebrated the DRA’s decision to remove the accusations, calling it a “huge victory for Defi” in an article on social networks.
“We appreciate that the new dry leadership is closely examining surveys and disputes in the process of being executed in our industry, not only ours, and has recognized that there is a more effective way to protect American consumers. The conclusion of our survey is not only welcome – and just – a relief for Laboratoires Uniswap, but also for the wider community of manufacturers, users and developers working towards a better financial system for all of us, “said the company in a blog article on Tuesday.
Amanda Tuminelli, legal director of the DEFI Education Fund, said in a press release in Coindesk that the DSA’s decision to delete the UNISWAP laboratories’ survey “gives Defi Companies comforting additional comfort in defense of La Défense de la Défense to embrace our right to build a decentralized technology”.
The DRA’s decision to close its investigation into the Laboratories United is the last of a wave of surveys in the same way on cryptographic companies, notably Robinhood Crypto and Opensea by Robinhood Token Marketplace. The SEC also agreed to abandon its file against Coinbase, pending the approval of the agency’s commissioners, according to the Crypto Exchange.
Read more: dry ready to drop the Coinbase trial a great moment for us crypto
The SEC currently reveals its approach to the regulation of cryptography. Former President Gary Gensler, known for his so-called “regulatory by application” approach to cryptographic industry, resigned in January. Its replacement, interim president, Mark Uyeda, has brought drastic changes to the agency – in particular by holding a new working group in crypto under the direction of the friendly commissioner Hester Peirce and by dissolving the unit of application of cryptography – reporting a new day for cryptographic companies in the United States
A second representative refused to comment.
