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Uniswap’s 3-Year Long SEC Battle Ends – Here’s What Comes Next
In a major development, the United States Securities and Exchange Commission (SEC) has officially closed its investigation against Uniswap Labs, putting an end to a three-year-long battle. The regulatory clarity on UNI tokens is expected to have far-reaching implications for the broader decentralized finance (DeFi) sector.
The SEC’s decision comes as a significant relief for Uniswap Labs and the DeFi community at large. Hayden Adams, founder of Uniswap Labs, has expressed gratitude towards the new SEC leadership, stating that he looks forward to working with Congress and regulators to help create rules that make sense for DeFi.
Kristin Smith, CEO of the Blockchain Association, a collective lobby for the industry, has praised the development as a win for “all crypto” and an end to regulation by enforcement. The era of intimidation is indeed coming to an end, thanks to a fresh perspective at the SEC,” she emphasized.
Following this positive outcome, UNI has bounced 12% in value. However, it’s not back to the tight $9-$10 price range seen earlier in February and remains below its trendline resistance, suggesting bears are still in control as of this writing.
On the other hand, regulatory clarity on UNI tokens has led to a significant whale accumulation. The largest cohort with 10M -100M UNI tokens scooped an extra 10M UNI tokens on February 25th, signaling a potential recovery if broader sentiment improves.
In conclusion, Uniswap’s 3-year long battle with the SEC has finally come to an end, and we can expect significant implications for the DeFi sector.
Source: https://ambcrypto.com/uniswaps-3-year-long-sec-battle-ends-heres-what-comes-next/
