Uniswap Labs, the software development studio, revealed in a blog posting on Friday that it is restricting access to some tokens involving tokenized stocks and derivatives on its supporting protocol interface. The news came after the announcement by the regulators of the United States that they are going to increasingly watch out for these types of products.
While explaining the decision of restricting the tokens following the announcement made by the US regulators, they mentioned the evolving regulatory scenario. The blog entry said:
Along with this, other crypto firms have canceled their tokenized stock products in recent weeks, and one such example is Binance. Though it should be noticed that Uniswap, unlike Binance, is a decentralized exchange and it is restricting access through its own interface.
Gary Gensler, the Chairperson of the Securities and Exchange Commission said in a speech on Tuesday in front of the Bar Association that stock tokens on both centralized and decentralized platforms are required to be registered with the regulator.
As stated by the Uniswap Labs, the statement read:
The SEC and CFTC have similarly led authoritative incursions into the token market and have targetted certain asset classes for possible fraud and illegal activities.
The Github repository has the list of all the tokens that are now going to become unsupported on the Uniswap web app and it was published by the Uniswap Labs.