Uniswap Labs Has Dropped Its Investigation by the SEC

The US Securities and Exchange Commission (SEC) has dropped its investigation into Uniswap Labs.

The US Securities and Exchange Commission (SEC) has dropped its investigation into Uniswap Labs.

In a February 25 post on X, Uniswap Labs said the agency had closed the investigation into Uniswap and that it was “taking no enforcement action,” adding:

“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.”

Earlier this year, the SEC issued a Wells notice claiming that Uniswap Labs operated as an unregistered broker, operated an exchange, and issued an unregistered security.

As of yesterday, that investigation has officially been closed, and the SEC is taking no enforcement action, according to a statement by Uniswap Labs.

The agency began its probe into Uniswap Labs in 2022. Its investigation follows a broader crackdown by the SEC on crypto firms.

In April, the SEC issued a Wells notice to Uniswap, claiming that the platform operated as an unregistered broker, operated an exchange, and issued an unregistered security. Uniswap followed this up with a 40-page response contesting the agency’s claims.

In December 2024, the SEC dropped its lawsuit against crypto exchange Coinbase after the pair reached a settlement.

The regulator’s decision to withdraw the case follows a settlement that does not involve any financial penalty against Coinbase.

Coinbase was sued by the SEC in June for allegedly selling unregistered securities to investors. The SEC also claimed that Coinbase should have registered as a national securities exchange and paid fees for each security sold on its platform.

The agency had also sued Robinhood Crypto but later closed the investigation.

Earlier this month, the SEC closed its investigation into Robinhood Crypto after opening an inquiry into the firm’s digital assets arm last year.

On February 24, the platform said in a blog that the SEC had “closed its investigation and did not intend to move forward with an enforcement action.”

Dan Gallagher, chief legal officer of Robinhood Markets, said: “We applaud the staff’s decision to close this investigation with no action.”

The change of direction at the SEC comes amid a pro-crypto approach following US President Donald Trump’s taking office in the White House.

Many are now waiting to see whether the SEC’s ongoing case against Ripple will soon be concluded.

In 2020, the agency sued Ripple, Chris Larsen, co-founder of Ripple, and Brad Garlinghouse, Ripple’s CEO, after alleging that they raised $1.3 billion through the sale of XRP, an unregistered securities offering.