The US Securities and Exchange Commission (SEC) has dropped its investigation against decentralized crypto exchange Uniswap Labs, marking another significant shift in the regulatory approach to decentralized finance (DeFi). The decision follows the dismissal of cases against Coinbase and Robinhood’s crypto business, highlighting a broader change in the SEC’s stance under the Trump administration.
Uniswap had been under investigation for over a year, accused of operating as an unregistered broker and issuing unregistered securities. The SEC’s move comes after the departure of former chair Gary Gensler, who was known for his adversarial stance toward crypto, and the appointment of acting head Mark Uyeda.
Uniswap CEO Hayden Adams welcomed the decision, stating, “This is a huge win for DeFi. It reaffirms that decentralized technology is fundamentally different from centralized systems.” Adams expressed optimism about working with regulators to develop sensible DeFi policies.
Despite the positive news for Uniswap, Bitcoin’s price has fallen to a four-month low, reflecting investor uncertainty about the future of cryptocurrencies and DeFi.