Regulation News

Fear lingers as Uniswap delists stock tokens amid regulatory uncertainty

TL;DR Breakdown

  • Decentralized exchange, Uniswap, has delisted Tether Gold and stock tokens.
  • The exchange cited regulatory concerns, which left people wondering about its “decentralized” property.

Based on Ethereum, Uniswap is known to be one of the largest decentralized trading platforms. However, its “decentralized” status is now questioned by crypto users after it decided to delist certain tokens from the trading site “app.uniswap.org,” citing regulatory concerns. 

Uniswap delist Tether Gold, Stock tokens on the trading interface

The development team, Uniswap Labs, made this known on Friday, saying, “we have taken the decision to restrict access to certain tokens through app.uniswap.org,” as they monitor the evolving regulatory landscape. The team also mentioned that the tokens only constitute a small portion of the total volume on the DEX. 

Tether Gold was affected by the new development, although the creator of the DEX Hayden Adams blamed a bug on the token’s smart contract. 

Other tokens delisted were stock tokens and some derivatives assets from Synthetix. Judging by this, it seems the exchange wants to stay clean from supporting tokens which fits to be securities should regulators crack in.

Whatever be the reason for the delisting got some people worried and questioning how exchanges are decentralized if they can be moved by regulatory uncertainties. 

Here’s what you should know

These tokens are only restricted on the app.uniswap.org, which is the trading frontend of Uniswap. The protocol itself isn’t affected. 

Similarly, this action has no impact on the Uniswap Interface code, which remains open source, or the many other portals or locally run instances used to access the Uniswap Protocol.

the team wrote.

This post was last modified on July 24, 2021 5:50 pm

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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