Hassan Maishera
On Tuesday, the Uniswap team announced via a blog post that the SEC has officially closed – with no action – its multi-year investigation into Uniswap Labs. In April, the SEC issued a Wells notice claiming that Uniswap Labs operated as an unregistered broker, operated an exchange, and issued an unregistered security.
With this decision, the SEC indicates that Uniswap Labs operates in full compliance with all applicable laws. That investigation was officially closed yesterday, and the SEC is taking no enforcement action.
Uniswap is a decentralized exchange protocol built on Ethereum. To be more precise, it is an automated liquidity protocol. No order book or centralized party is required to make trades. UNI, the native token of Uniswap, is currently trading at $8.321, up 5% in the last 24 hours.
