The United States Securities and Exchange Commission has ended a four-year investigation into decentralised finance protocol Aave, according to its founder and chief executive.
Aave founder and CEO Stani Kulechov said the regulator does not intend to recommend an enforcement action against the platform.
Kulechov shared a letter dated August 12 from the SEC confirming the conclusion of the probe.
The letter indicated that Aave had been under investigation since around 2021 and may have faced potential enforcement action.
We’re glad to put this behind us as we enter a new era where developers can truly build the future of finance, Stani Kulechov said.
Public records on the SEC’s website do not show that a Wells notice was ever issued to Aave.
A Wells notice typically signals that the regulator is considering formal enforcement action against an entity.
The SEC declined to comment on the details of the matter or confirm the existence of any investigation.
The commission does not comment on the existence or nonexistence of a possible investigation, an SEC spokesperson said.