Uniswap's 30% Surge: SEC Exemption Boosts DeFi Protocol

The Uniswap (UNI) token surged by 30% on September 18, reaching a value of $9.20 and marking its highest level in 10 months.

This significant rally comes after the US Securities and Exchange Commission (SEC) published a temporary exemption for transactions with tokenized stocks on decentralized networks.

The exemption allows for on-chain trading of certain tokenized stocks, which has been seen as a positive development for decentralized finance (DeFi) protocols like Uniswap.

According to Uniswap founder Hayden Adams, the SEC's stance confirms that decentralized systems driven by autonomous software do not require a formal exemption.