SEC Ends Investigation into Uniswap Labs

The SEC has concluded its investigation into Uniswap Labs without pursuing enforcement action, according to the Wall Street Journal, citing sources familiar with the matter.

This decision follows a Wells notice issued to Uniswap Labs in April 2024, indicating potential legal action against the creators of the world’s largest decentralized crypto exchange.

The investigation looked into whether Uniswap was operating as an unregistered securities exchange and if its UNI token constituted an illegal securities offering.

In May 2024, Uniswap Labs contested the SEC’s impending enforcement action, arguing that the protocol did not meet regulatory definitions of an exchange.

Following the news, Uniswap’s UNI token rose 4.6% in the last hour but remains down 0.5% over the past 24 hours, as per CoinGecko data.

Founded in 2018 by Hayden Adams, Uniswap Labs launched Uniswap v4 in January 2025, transforming the protocol into a developer platform with customizable features. The new version had undergone security audits and provided a $15 million bug bounty.