It’s been just reported that Uniswap Labs is restricting access to some tokens. This move is also including tokenized stocks and derivatives on the protocol interface that it supports.
This is what the software development studio has said in a blog posting at the end of this week.
The news comes days after U.S. regulators’ announcement that they would increasingly scrutinize these types of products. Uniswap cited an “evolving regulatory landscape” in explaining its decision.
“Consistent with actions taken by other DeFi interfaces, we have taken the decision to restrict access to certain tokens through app.uniswap.org,” the blog entry said.
As CoinDesk reveals, other crypto companies have similarly cancelled their tokenized stock products in recent weeks, including Binance.
On the other hand, the same online publication notes that unlike Binance, a centralized exchange, Uniswap is only restricting access through its own interface.
Users will still be able to access these tokens through other portals on the decentralized finance (DeFi) platform that supports them.
Check out the complete blog post in order to learn more details about all this.
The crypto market today
Today, the crypto market looks great with Bitcoin and Ethereum trading in the green.
Bitcoin mass adoption is also going great and there are a lot of moves that are being made in this direction.
For instance, the day before we revealed that JP Morgan allows wealth management clients to access institutional Bitcoin and crypto funds.
The online publication the Daily Hodl notes that Business Insider obtained an internal memo from JP Morgan that indicates the bank’s wealth management clients can now take buy and sell orders for Grayscale Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic products, and Osprey Funds’ Bitcoin Trust.
The wealth managers may only execute crypto trades if their clients request it, and they cannot recommend crypto products, according to Business Insider.