Stani Kulechov, the founder and CEO of Aave, announced that the US Securities and Exchange Commission has concluded a four-year investigation into the decentralized finance platform.
In a post on X on Tuesday, Kulechov shared an SEC letter dated Aug. 12, indicating that the agency “does not intend to recommend an enforcement action” against Aave. The letter implied that the protocol had been under potential scrutiny by the SEC since the investigation initiated almost four years ago.
“We’re pleased to move past this as we embark on a new chapter where developers can genuinely shape the future of finance,” Kulechov remarked.
Publicly available records on the SEC’s site do not reflect a Wells notice issued to Aave. A Wells notice serves as a notice of a potential enforcement action. The protocol had not offered a comment at the time of publication.
In a comment to Cointelegraph, an SEC representative stated that the commission “does not comment on the existence or nonexistence of a possible investigation.”
As per Nansen’s data, the price of the Aave token (AAVE) increased over 3% in the last 24 hours, reaching a value of $187.85.
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The conclusion of the investigation into Aave marks another instance of the SEC easing its regulatory and enforcement stance toward crypto companies since the inauguration of US President Donald Trump in January.
This year, the regulator has dropped multiple lengthy investigations and cases, including those involving Uniswap Labs, Gemini, and Ripple.
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This is a developing story, and further information will be added as it becomes available.
