The cryptocurrency market is experiencing a positive shift thanks to the SEC’s new strategy towards cryptocurrencies. While recent declines have been attributed to events like the Bybit hack and ETF withdrawals, positive news surrounding UNI Coin has emerged. The SEC’s recent investigation into Uniswap, which concluded without enforcement actions, has fueled a significant price surge of approximately 10%. This change in approach suggests a more favorable regulatory environment for cryptocurrencies overall.
A WSJ report reveals that the SEC has closed investigations related to Coinbase, Robinhood, and suspended the case against Binance. These developments add further optimism about UNI Coin’s future prospects.
“Those familiar with the matter indicate that the SEC has completed its investigation into Uniswap and does not plan to pursue any enforcement actions,” according to insider sources.
Previously, the SEC aggressively pursued lawsuits against crypto companies, creating an uncertain market environment. However, under Gensler’s leadership, a shift towards supporting the cryptocurrency market appears imminent.