The Drop Newsletter Segment

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The SEC has been dropping investigations recently, allowing Robinhood, OpenSea, and Coinbase to escape regulatory scrutiny.

The agency has concluded its investigation into Uniswap Labs, as announced by the company on Tuesday.

> “This is a huge win for DeFi and reaffirms what we’ve always known — that the technology we build is on the right side of the law, and our work is on the right side of history,” Uniswap Labs stated on X.

In a blog post, Uniswap described the investigation’s closure as a “welcome relief” and expressed appreciation for the SEC’s new leadership, which now excludes former Chair Gary Gensler, known for his criticism of crypto. They noted a “more effective path to protecting American consumers.”

Uniswap inventor and CEO Hayden Adams echoed this perspective in a detailed response, arguing that Uniswap does not act as a broker and therefore does not fit traditional financial regulatory structures — it’s a case of a square peg in a round hole.

This sentiment is shared by many in the crypto space who believe digital assets do not conform neatly to existing categories like securities or commodities.

Just a few months ago, crypto executives criticized the SEC for a lack of transparency and the threat of significant fines. The recent praise from leaders at OpenSea, Coinbase, and Uniswap marks a significant shift.

Uniswap Labs has already spent “tens of millions” in its struggles against the SEC, according to COO Mary-Catherine Lader.

“Massive W for builders,” remarked OpenSea CEO Devin Finzer regarding the closed case.

Overall, responses from the crypto community have been predominantly positive, marking a significant victory for DeFi and crypto alike.

Source: Uniswap TVL over time