Key Takeaways:

• The SEC has ceased its investigation into Uniswap Labs without filing any enforcement actions.
• This announcement follows a notice received by the company last April regarding the investigation.
• The SEC’s recent decision comes after previous investigations involving other crypto firms, such as Robinhood Crypto and OpenSea.

The U.S. Securities and Exchange Commission (SEC) will no longer pursue its investigation against Uniswap Labs, the creator of the decentralized exchange, as confirmed through a Tuesday announcement from the company.

Uniswap had received a Wells notice last April, indicating accusations of operating without being registered as a securities broker and exchange, alongside claims of issuing an unregistered security. The company and its personnel vigorously defended their operations through various communications and expressed intentions to contest the charges.

The SEC’s withdrawal of the charges was celebrated by Uniswap in a social media statement, describing it as a significant achievement for the decentralized finance (DeFi) sector.

“We appreciate that the SEC’s new leadership is taking a close look at the pending enforcement investigations and litigations across our industry… The conclusion of our investigation is not only welcome — and just — relief for Uniswap Labs, but also for the broader DeFi community.”

Additionally, Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, remarked that this development offers more confidence for DeFi companies to focus on innovation rather than defense against regulatory scrutiny.

This move by the SEC is part of a larger trend, as the agency has recently dropped investigations into several other crypto enterprises, including Robinhood Crypto and OpenSea. The agency’s general approach to cryptocurrency regulation is undergoing significant changes under new leadership, marked by the departure of former Chairman Gary Gensler and the establishment of new oversight structures that favor the digital asset industry.

An SEC representative declined to provide comments on the matter.