The US Securities and Exchange Commission (SEC) is set to drop its case with Uniswap Labs in what is considered a sustained shift in its pro-crypto agenda. According to an update from Uniswap Labs, the investigation into the case comes with no further action.
Uniswap Labs Case and the US SEC Turnaround
According to the update, Uniswap Labs said the case closure confirms what it has always known: that it complies with the law. The trading platform said its technology facilitates a new market that is transparent, efficient, and accessible.
In its update, the firm recalled the Wells Notice it received from the US SEC in April last year. Through the notice, the decentralized exchange platform was accused of breaking Federal Securities laws by supporting tokens that constitute investment contracts.
The closure to this case is not the first of its kind. Thus far this month, the SEC has revealed plans to close its lawsuit against Coinbase, signaling a new regulatory order.
This is a breaking news, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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