In April last year, the U.S. Securities and Exchange Commission (SEC) issued a Wells notice to Uniswap Labs, the leader of the Ethereum decentralized exchange (DEX), accusing its operations of not registering The stock exchange, engaged in unregistered brokerage or clearing business, and even involved in the issuance of unregistered securities, may face legal litigation risks.

Now, the storm has finally come to an end. Uniswap Labs announced in the early morning of the day (26) that the SEC has officially concluded its investigation yesterday and has not taken any law enforcement actions. Officially described this as a "deFi major victory" and emphasized:

"This once again proves the fact that we have always believed in - the technical station we have built On the right side of the law, our work is on the right side of history. ”

Uniswap Labs further stated in its statement that DeFi is improving the financial markets, allowing users to trade instantly, securely and transparently without giving up control of their assets right.

At Uniswap Labs, we are committed to using technology to expand DeFi accessibility, improve liquidity and price transparency, reduce dependence on intermediaries, and reduce Transaction cost. The products we build not only serve users, but also make the entire financial system stronger.

Uniswap also affirmed the new leadership of the SEC, believing that it is revisiting the law enforcement investigations and litigation within the industry, not limited to the Uniswap case, and realized that There are more effective ways to protect American consumers.

The end of this investigation is not only a victory for Uniswap Labs, but also a common victory for the DeFi community, developers and users, as we are working hard to build A better financial system.

Finally, Uniswap once again stressed that they have always been happy to talk to regulators and makers to establish a clear and reasonable DeFi regulatory framework and look forward to the future of the development of more Constructive discussion.

Hayden Adams: The SEC investigation took us three years and millions of dollars

In this regard, Uniswap co-founder Hayden Adams published an article explaining the SEC (the previous session) Management's investigation lasted for 3 years, forcing them to spend countless hours and millions of dollars, and even brought pressure on their personal level. He pointed out:

The federal investigation is extremely intrusive and stressful, and there is even a saying in the legal community: "Investigation itself is punishment." But this should not be The price American innovators need to pay.

He stressed that Uniswap Labs is not a broker, and the Uniswap agreement itself is not an unregistered exchange or clearing agency, nor is it operated by Uniswap Labs. In addition, UNI tokens are not securities.

However, the SEC still takes enforcement actions against Uniswap Labs, and even without a clear legal basis, it still tries to force DeFi into a Regulatory frameworks that are inconsistent with their nature, while at the same time, do not provide clear rules or compliance channels.

Now, these allegations from the SEC have been dropped, making him say that this victory belongs to the entire DeFi ecosystem:

"This once again proves our always-standing position: decentralized technologies and self-management are essentially different from the centralized intermediary system they are going to replace."

He further pointed out that self-custodial funds operate on public chains through smart contracts, bringing unprecedented transparency to the financial market. If a regulatory framework that applies to centralized, opaque traditional financial markets (TradFi) is directly imposed on DeFi, it will not work at all.

Finally, Adams expresses his gratitude to the new SEC leadership for a more constructive regulatory attitude and looks forward to subsequent cooperation to ensure DeFi can flourish in the United States , rather than being forced to move overseas.