The SEC just handed Uniswap a real regulatory pathway, and $UNI is responding accordingly. On September 17, the SEC issued a five-year "Innovation Exemption" letting Tokenized Securities Venues trade tokenized NMS stock through permissioned AMM liquidity pools. Hayden Adams called Commissioner Peirce's concurring opinion the most important part of the order, cos it directly applies the exemption to permissioned pools on Uniswap v4. Uniswap is now positioned to submit comment letters shaping how this framework develops. Why does this matter for the fee switch narrative I've been tracking? Higher permissioned trading activity through v4 feeds directly into protocol revenue, which now routes toward UNI buybacks and burns. Robinhood Chain activity adds another leg, strengthening Uniswap's position across tokenised assets generally, not just crypto pairs. UNI is up 28% in 24 hours and 47% over the week. That's not hype-driven. That's a structural repricing around real regulatory clarity, the kind RWA has needed for a long time. I've got UNI on my watchlist for a breakout continuation setup, using the fee-switch mechanism as my core thesis rather than the price action alone. Trading $UNI on Bitget right now, and there's a Uni Trading Club championship running for anyone who wants to join in. NFA. DYOR.