DEX Uniswap limited access to 129 tokens
Decentralized cryptocurrency exchange Uniswap has restricted access to 129 tokens, including tokenized shares and derivatives. This came shortly after US regulators reported tightening oversight of tokenized financial products and services.
The management of the exchange argued for such an unexpected decision by the fact that the regulatory framework is changing, obviously hinting that it was rather a forced measure. Among the banned were shares of such American tech giants as Microsoft, Tesla and Google.
Over the past week, Uniswap were not the first to ditch their tokenized shares. Earlier this was announced by the largest crypto exchange Binance, which will make this type of investment unavailable in mid-October 2021. But, unlike the latter, in the case of Uniswap we are talking about restricting access using the personal DEX interface. This means that, if desired, users will still be able to access these financial products in a “workaround” way.
The wider the cryptocurrency industry grows, the more the grip of global regulators is tightening. Speaking to the American Bar Association this Tuesday, the SEC chairman said that tokenized shares and exchange-traded tokens are subject to mandatory registration with the appropriate authority. In the case of the US, we are talking about the SEC. In addition, as early as November 2021, issuers of such swaps will be forced to follow an additional set of rules.
It remains to be seen how much such regulation methods can undermine the dominant position of the largest trading floors in the market.
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