Recently, several significant events have occurred in the DeFi and cryptocurrency space. The SEC has withdrawn controversial rules, Uniswap has upgraded its wallet, and Polygon has expanded its POL token capabilities to Solana.
SEC's Withdrawal of DeFi Rules
On June 13, the SEC officially withdrew several proposed rules aimed at imposing stricter regulations on DeFi and crypto custody. Among them was the controversial amendment to Rule 3b-16 under the Exchange Act, originally introduced in April 2023 during Gary Gensler's enforcement-heavy leadership.
Analysis: This decision is seen as a short-term win for the DeFi industry, easing compliance pressure and regulatory uncertainty. However, the SEC hasn’t ruled out future oversight; it may return with new approaches later.
Uniswap Wallet Upgrade
Uniswap Labs has activated smart wallet functionality in its mobile wallet, enabling one-click swaps, bundled transactions, and upcoming features like gas sponsorship and fee payments using any token.
Analysis: This upgrade significantly improves user experience, especially for newcomers, and shows Uniswap’s ambition to become a mainstream Web3 gateway. By reducing friction and gas costs, it lowers the barriers to entry, but smart wallets also introduce contract complexity, which could bring new security risks.
Launch of POL on Solana
On June 12, Polygon announced its native token POL is now live on Solana via Wormhole’s Native Token Transfers (NTT) framework. Unlike wrapped assets, this move preserves POL’s core functionalities—governance, fee payments, and security—across chains.
Analysis: This is a key milestone in Polygon’s cross-chain strategy, increasing POL’s liquidity and usability while unlocking access to Solana’s developer and user base. It highlights the move toward genuine interoperability, supporting more native, multi-chain use cases.
Thus, the recent events in the cryptocurrency and DeFi world may significantly influence the future development of technologies and their regulation. Both the SEC and companies like Uniswap and Polygon demonstrate an active desire for innovation and adaptation to changing market conditions.
