Uniswap Labs restricts access to some tokens, along with tokenized stocks and derivatives on the protocol interface that it supports, the software development studio revealed within an official web blog post earlier on Friday.
The news comes days after United States regulators’ announcement that they might increasingly scrutinize these sorts of products. Uniswap cited an “evolving regulatory landscape” in explaining its decision.
“Consistent with actions taken by other DeFi interfaces, we’ve taken chosen to limit access to certain tokens via our app.uniswap.org,” the blog entry outlined.
Other renowned cryptocurrency companies have similarly canceled their tokenized stock products in recent weeks, along with Binance. However, unlike Binance, a centralized exchange, Uniswap is merely restricting access via its own interface. Users can still access these tokens via other portals on the DeFi [Decentralized Finance] platform that supports them.
The broader cryptocurrency industry is facing increasingly vocal attention from regulators, along with prominent United States officials. Earlier on Tuesday, the SEC [Securities and Exchange Commission] Chair Gary Gensler added within an official speech prior to the American Bar Association that stock tokens on both centralized and decentralized platforms would need to be registered with the regulator.