The American Securities and Exchange committee abandoned its investigation into the Laboratoires Laboratoires, the company announced on Tuesday.
Uniswap Labs is the USWAP developer, the largest decentralized exchange on Ethereum, as well as a series of other cryptographic software, including a digital portfolio and a layer 2 blockchain called Unchain.
The UNISWAP UNISWAP token jumped 4.6% to $ 8.24 Tuesday despite a wider market rout that saw Bitcoin fall below $ 90,000 for the first time since November.
“In April, the SEC issued a well opinion saying that the Laboratoires Uniswap operated as an unregistered broker, operated a scholarship and published an unregistered guarantee,” Uniswap Labs said on Tuesday shared on X.
“Yesterday, this survey was officially closed and the SEC does not take any application.”
SEC refused to comment.
The regulator became the scourge of the cryptographic industry during the presidency of Gary Gensler, a former executive of Goldman Sachs appointed by President Joe Biden.
Gensler maintained most cryptographic tokens were titles similar to stocks and obligations. The SEC continued dozens of cryptographic societies, alleging that they violate the law by selling unregistered titles.
But the agency rushed to abandon many of these cases since peopleler resigned on January 20.
The Robinhood retail trading platform and Coinbase EXCHAGENE CRYPTO are among the companies to celebrate the closure of the SEC surveys in recent days.
A friendly crypto commissioner, Mary Uyeda, leads the sec temporarily until the Senate could approve the candidate of President Donald Trump, Paul Atkins. Uyeda has appointed another ally of the industry, Commissioner Hester Peirce, to lead a new “crypto working group” within the SEC responsible for creating tailor -made regulations for digital assets.
“Precipitation is because they must reject cases before any time of deposit,” said former lawyer and crypto critic of the dry John Reed Stark DL News After Coinbase said that the SEC would abandon its trial against society.
“Otherwise, the dry should declare in a court arguing that digital assets are titles, which is an anathema in the ethics of Uyeda and Peirce.”
Industry groups have applauded the DSA’s decision to remove the case.
“It is undoubtedly the right result, and the one who corrects the errors of the previous management of the dry,” said Amanda Tuminelli, legal director of the Crypto Defi Fund Defense Society, in a shared press release with DL News.
“This gives companies DEFI additional companies to bring defense comfort to the adoption of our right to build a decentralized technology.”
The three -year investigation cost Uniswap Labs, “incredible time and millions of dollars,” said Hayden Adams, the founder of the Uniswap after the announcement.
The end of the SEC survey “reaffirms what we have said throughout: this technology and the decentralized auto-customy are intrinsically different from the centralized and intermediate systems that they aim to replace”.
Aleks Gilbert is DL News“DEFI correspondent based in New York. You can reach it at aleks@dlnews.com.
