Uniswap Labs, a company that aims to create the world’s first decentralized exchange for tokens, has announced restrictions on over 100 tokens. The move comes after many of these tokens were found to be scams and fraudulent projects.

Uniswap Labs has created a new token called Uniswap which is an ERC-20 token. The tokens are restricted to 100 million and can be bought through the Uniswap website. Read more in detail here: how does uniswap work.

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News on the Blockchain

The software development company Uniswap Labs is promoting adoption of the Uniswap Protocol. It recently announced that access to the Uniswap interface will be limited to 100 or more tokens.

Uniswap Labs refers to the developing administrative scene for the crypto and blockchain sector in its statement, which serves as a preventive mechanism. It’s worth mentioning as a good explanation for the new set of restrictions. Apart from that, the activity is based on comparisons with other DeFi standards that are similar to the Uniswap Protocol. Given how Uniswap Labs built the convention as an open-source stage, this makes sense.

The restrictions stem from regulators’ increased focus on tokens that, in some way or another, provide a comparable contract set for token contributions. Which are usually guided by transactions before leaving or delivering these tokens on an open market.

Uniswap Labs went on to say that with the new restrictions, only the conventions between operational interfaces will be updated. As a result, the convention itself remains autonomous and decentralized.

The SEC Retaliation

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have both entered the token market, concentrating on particular tokens for possible misrepresentation and wrongdoings.

“Whether it’s a stock token, a stable value token backed by assets, or any other virtual product that offers synthetic exposure to underlying securities, it doesn’t matter.” Gary Gensler, the current chairman of the Securities and Exchange Commission, said this.

The Uniswap online application would no longer support the complete list of tokens. On this Github archive, Uniswap Labs announced it. From tokenized stocks, options, and subsidiaries to mirror stocks and even wrapped tokens that interface with more conventional standards, the list is extensive. The announcement comes only days after US authorities said that they will examine these types of goods more thoroughly. In explaining its decision, Uniswap alluded to a developing administrative landscape.

Other cryptocurrency exchanges, such as Binance, have recently withdrawn their tokenized stock products. In any event, it is a controlled exchange, unlike Binance. Uniswap is just restricting access to its interface. In any case, users may access these tokens through various gateways. Specifically, the stage of decentralized money (DeFi) that underpins them.

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Frequently Asked Questions

Can Uniswap reach 100$?

Uniswap is currently valued at $9,000.

Can you withdraw tokens from Uniswap?

Uniswap does not have a withdraw function, so no.

Can I buy tokens on Uniswap?

You cannot buy tokens on Uniswap.

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