SEC Ends Four-Year Aave Probe with No Enforcement Action

The U.S. Securities and Exchange Commission has closed a roughly four-year investigation into Aave without recommending enforcement, according to Aave founder and CEO Stani Kulechov. In a post on X on Tuesday, Kulechov shared an Aug. 12 letter from the SEC stating the agency does “not intend to recommend an enforcement action” against the decentralized finance protocol.

The letter indicates the inquiry dated back about four years. “We’re glad to put this behind us as we enter a new era where developers can truly build the future of finance,” Kulechov said.

Public filings on the SEC’s website do not reflect a Wells notice issued to Aave. A Wells notice informs a party of a potential enforcement action. Aave had not responded to a request for comment at the time of writing. An SEC spokesperson said the commission “does not comment on the existence or nonexistence of a possible investigation.”

According to data from Nansen, the Aave token (AAVE) rose more than 3% over the past 24 hours, reaching $187.85.

The conclusion of the Aave probe follows a series of recent shifts by the SEC regarding crypto enforcement since the inauguration of U.S. President Donald Trump in January. This year, the regulator ended several long-running investigations and cases, including those involving Uniswap Labs, Gemini, and Ripple.

This is a developing story, and additional details will be provided as they become available.

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