According to Friday a report By the Wall Street Journal, the US Securities and Exchange Committee has been brought down to its investigation into the UISWAP laboratories, developed behind the pioneering automated market maker (AMM).
As U.Today, SEC Uniswap reported its intention to transfer the popular cryptocurrency project to the court.
According to the previous administration, led by former President Gary Ginsner, the Securities and Stock Exchange Commission attempted to claim that Labs was an unregistered mediator.
Earlier this month, the agency also dropped a widely covered lawsuit against Coinbase, the most popular central stock exchange in the United States on Monday, and the agency also abandoned its investigation at Robinhood Crypto.
“Who was the great companies such as the UniswAP Labs to waste a lot of time and money in combating organizational abuses.”
UNISWAP Labs described SEC step as a “huge victory” for the decentralized financing sector (Defi). According to the company, this reaffirms that technology behind the project is present on the “right side of the law”.
Related
CEO Hayden Adams claims that the Supreme Education Council may pursue the software company, although there is no “no clear legal basis.” During the investigation, which lasted for a total of three years, the company had to waste “millions of dollars”, according to Adams.
He expressed his gratitude for the new SEC leadership to take a more “constructive” approach compared to the previous administration. “The best days for Defi in the future,” Adams added.
