SEC ends probe into Aave after four years, CEO says
The SEC has concluded its four-year investigation into Aave without recommending enforcement action, according to CEO Stani Kulechov.Summary
Stani Kulechov, founder and CEO of the decentralized finance platform Aave, announced that the U.S. Securities and Exchange Commission (SEC) has ended its four-year investigation into the protocol. Kulechov shared an August 12 letter from the SEC stating the agency "does not intend to recommend an enforcement action" against Aave. Kulechov expressed relief, stating they are glad to put the matter behind them as they enter a new era for building finance. While public records did not show a Wells notice issued to Aave, an SEC spokesperson declined to comment on the existence of the investigation. Following the news, the price of the Aave token (AAVE) increased by over 3%. This development follows a trend of the SEC softening its enforcement stance against several crypto companies, including Uniswap Labs, Gemini, and Ripple, this year.
(Source：Cointelegraph)