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Okay, here’s the summary of the Uniswap Labs and SEC situation, rephrased with some extra background:
As per a *The Wall Street Journal* article released last week, the Securities and Exchange Commission (SEC) has ended its inquiry into the creators of Uniswap Labs, a prominent entity in the Automated Market Maker (AMM) field.
During the prior leadership, spearheaded by Gary Gensler, the SEC sought to assert that Uniswap Labs should be deemed an unregistered broker. Essentially, the SEC was preparing for a legal confrontation with Uniswap, as U.Today noted.
Notably, this action follows the SEC’s withdrawal of its prominent lawsuit against Coinbase, a major centralized exchange in the United States. They also ceased their investigation into Robinhood Crypto just last Monday. It appears the SEC is easing up on numerous of their cases.
Uniswap Labs is understandably hailing this as a significant victory for the Decentralized Finance (TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America) sphere. They are claiming it confirms the technology underpinning the endeavor.
Chief Executive Officer Hayden Adams was direct, declaring that the SEC initiated an assault on their software firm without a clear legal justification. He noted the company had to expend millions of dollars throughout the three-year investigation.
Crypto attorney Jake Chervinsky commented, labeling it a “travesty” that enterprises such as Uniswap Labs must squander assets contesting regulatory overreach. He conveyed appreciation that the new SEC administration is adopting a more constructive stance compared to the past. Adams added that the most promising times for DeFi are still ahead.
