YEREVAN (CoinChapter.com) — The U.S. Securities and Exchange Commission (SEC) has dropped its year-long investigation into Uniswap Labs, ending a regulatory case that had raised concerns across the decentralized finance (DeFi) industry. The decision briefly lifted the Uniswap (UNI) token, but overall market conditions remain bearish.
The SEC had been investigating whether Uniswap functioned as an unregistered broker, exchange, and clearing agency while offering unregistered securities. However, after months of scrutiny, the case has been closed without further action.
This development follows a trend where the SEC is dropping multiple crypto-related enforcement cases, signaling a shift under the new administration of President Donald Trump.
Uniswap CEO Pushes for New DeFi Regulations
Uniswap CEO Hayden Adams reacted to the news, stating that traditional finance (TradFi) regulations do not apply to DeFi and that new frameworks are necessary.
“This is a huge win, not just for Uniswap Labs but for DeFi as a whole. I’m grateful that the new SEC leadership is taking a more constructive approach, and I look forward to working with Congress and regulators to help create rules that actually make sense for DeFi,”
Adams said.
The crypto industry had closely followed this case, as it was expected to influence regulatory treatment of decentralized exchanges (DEXs). Now that the SEC has dropped its probe, discussions on new DeFi regulations are expected to gain momentum.
UNI Token Sees Brief Price Increase
After the SEC’s announcement, the UNI token saw a short-lived price increase. Its daily trading volume surged by more than 140%, according to CoinMarketCap data.
However, UNI’s price remains down 30% this month, despite major network upgrades. The launch of Uniswap v4 and the Unichain mainnet earlier this month did not provide lasting support to its value. As of Feb. 26, 2025, UNI is trading at $8.287, according to TradingView data.
The end of the SEC probe removes a key regulatory concern, but market conditions continue to affect Uniswap’s token price.
SEC Drops Multiple Crypto Cases Under New Leadership
The SEC’s decision to close the Uniswap case is part of a wider pattern. Recently, the Commission dropped enforcement actions against Coinbase, Opensea, and Robinhood.
Under former SEC Chair Gary Gensler, the regulator took a strict stance on crypto firms. However, under the new administration, the SEC has been stepping back from aggressive enforcement actions.
The closure of the Uniswap investigation aligns with this shift, but DeFi projects remain uncertain about future regulatory developments. With the SEC’s changing enforcement strategy, discussions on clearer DeFi regulations are expected to continue.
