Uniswap Labs Limits Access to Some Tokens
Uniswap Labs is restricting access to some tokens, including tokenized stocks and derivatives on the protocol interface that it supports, the software development studio said in a blog posting Friday.
The news comes days after U.S. regulators’ announcement that they would increasingly scrutinize these types of decentralized finance (DeFi) products. Uniswap cited an “evolving regulatory landscape” in explaining its decision.
“Consistent with actions taken by other DeFi interfaces, we have taken the decision to restrict access to certain tokens through app.uniswap.org,” the blog entry said.
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Other crypto companies have similarly canceled their tokenized stock products in recent weeks, including Binance. However, unlike Binance, a centralized exchange, Uniswap is only restricting access through its own interface. Users can still access these tokens through other portals on the DeFi platform that supports them.
The broader crypto industry is facing increasingly vocal attention from regulators, including prominent U.S. officials. On Tuesday, Securities and Exchange Commission (SEC) Chair Gary Gensler said in a speech before the American Bar Association that stock tokens on both centralized and decentralized platforms would have to be registered with the regulator.