Uniswap Labs restricts access to various tokens, including tokenized stocks and derivatives, on the protocol interface it supports. The software development studio said this in a blog post on Friday.
The platform restricted more than 100 tokens
The news comes just days after U.S. regulators announced that they would increasingly scrutinize these types of products. Uniswap explained its decision by citing an “evolving regulatory landscape.”
The list that Uniswap published included more than 100 tokens. Examples of these tokens are Gold Tether, opyn options on ETH at different strikes and expirations, Synthetic assets from popular protocols such as Synthetix or Mirror Protocol.
The Uniswap community is not happy about the decision
The users in the Uniswap community are heavy supporters of the platform’s decentralized model and expressed that they are not happy about the sudden asset restriction. The anger focused primarily on the lack of community input in the decision, especially since the move completely bypassed the platform’s decentralized governance model.
Other crypto companies have also canceled their tokenized stock products in recent weeks, including Binance. But Uniswap only restricts access through its interface. Users can still access these tokens through other portals on the decentralized finance (DeFi) platform that supports them