Uniswap, the world’s leading decentralized exchange, has announced the delisting of a number of tokens from its app interface. On July 23, Uniswap Labs made the announcement, emphasizing that the tokens had been removed from the app interface only and that the protocol remains immutable.
The report stated:
“These changes pertain to the interface at app.uniswap.org — the Protocol remains entirely autonomous, immutable, and permissionless.”
It has been reported that the front-end is separate from the Uniswap protocol itself, which is autonomous code that was released as a public good.
Uniswap Labs said:
“We monitor the evolving regulatory landscape.”
However, the tokens that have been delisted from the platform’s interface include instruments that may be at risk of being classified as securities by a regulator, including tokenized stocks, options tokens, insurance-based tokens, and synthetic assets from crypto derivatives platforms like Synthetix.
The report said that gold-backed token, Tether Gold (XAUT), is among the assets targeted, however, Uniswap founder Hayden Adams attributed XAUT’s removal to buggy code. Meme-themed tokens including Grumpy Cat (GRUMPY) had also found their way onto Uniswap’s blacklist.
Uniswap is currently the leading decentralized exchange by trade volume, with the protocol’s v2 and v3 versions facilitating a combined $1.45 billion worth of trade in the past 48 hours. Regulatory pressure on the crypto sector is mounting across the globe, with Binance and BlockFi recently incurring the wrath of authorities in the UK and US.
Thus, on July 22, the Texas State Securities Board has joined its counterparts in New Jersey and Alabama in taking action against the crypto lending platform.