Stani Kulechov, founder of Aave, reported that after four years of scrutiny, the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Aave. The protocol’s team dedicated exhaustive resources to defending its ecosystem, successfully ensuring that the regulator decided not to recommend any enforcement action or impose coercive measures against the decentralized lending platform.
After four years, we are finally ready to share that the SEC has concluded its investigation into the Aave Protocol.
— Stani.eth (@StaniKulechov) December 16, 2025
This process demanded significant effort and resources from our team, and from me personally as the founder, to protect Aave, its ecosystem, and DeFi more… pic.twitter.com/aZeLrZz5ZQ
This closure represents a significant relief for decentralized finance (DeFi), a sector that has faced constant regulatory pressure under suspicions regarding whether its governance tokens function as securities. The conclusion of this case, combined with similar precedents involving Uniswap and Ondo Finance in late 2025, suggests a shift in focus by the current administration toward an environment that allows developers to innovate without fear of retroactive litigation.
Moving forward, the sector will monitor how this clarity drives the institutional adoption of non-custodial protocols. While the resolution is positive, investors must remain attentive to the upcoming regulatory frameworks the agency plans to propose for on-chain activities in 2026, ensuring that the protocol’s decentralization remains aligned with the new compliance standards of the global crypto ecosystem.
Source: https://x.com/StaniKulechov/status/2000963157150388267
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