Recently, one of the top exchanges in the world, Uniswap, gave out a statement. The announcement was about the delisting of several tokens from its application.

Rising Regulations and Pressure

The lab released this report last week on Friday, emphasizing the removed tokens. However, what remains is the protocol immutability. Under this, the company said that its actions were necessary. In addition, the applicable changes in its interface would stay intact without a permit.
Looking back, Uniswap has been a spring of software developers. These people were primarily involved in creating the online portal. Moreover, its enhancement was with front-end skills for more significant client interaction and performance. The front-end technology remains unique from the exchange protocol. The coding was autonomous and was a public good.
Furthermore, the world’s leader confessed about rising regulations. Also, they sad that the environmental pressures triggered their decision. They said they are monitoring the existing rules. And the firm is describing the step-like ‘action consistency implemented by Defi platforms.

Reducing Risks from Illegal Sites

According to Uniswap, delisting of tokens shall reduce risks attached to them. Especially those categorized as security by regulators. The category consists of tools like the stock, option tokens, insurance-related tokens. Furthermore, it includes digital assets. Other digital assets on target by the regulator include XAUT. The Uniswap Labs director H.Adams said that its buggy coding could only cause delisting XAUT. Besides the XAUT, also in the target group is Grumpy CAT. Decentralization of the exchange platform caused mixed reactions from the digital currency forum. Several crypto followers questioned them about this. They asked why the UNI stakeholders didn’t contribute to the delisting process? Above all, protesting over the decision, Chain Link said the whole thing wasn’t informative. They wondered whether decision-making was via a voting procedure. If it wasn’t so, the decision only opens an entire worm can to set a horrible scenario.
In the decentralized market, Uniswap remains the top leader by investment volumes. Their protocols, V2 and V3, have contributed to amounts close to 1.4 Billion US dollars. The payments from the two versions were within one day.

BlockFi risks a Block by Regulators

Pressure from regulators has so far remained an issue of concern. This situation is similar across the Global market. Several sites like Binance and BlockFi suffered the anger of regulators in the UK and USA. Recently, a security board in the USA has teamed up. Their job is to hunt down some crypto platforms under similar concerns. The committee in Texas filed a case to stop the digital lending company, BlockFi. This complaint passed because of a failure to offer permitted licenses. The licensing should be under both the governments in the USA. It involves the state and the federal government. USA’s crypto regulator is looking forward to holding the hearing. The charges are on illegal funding attained by the exchange. In conclusion, suppose the jury accepts that the site’s accounting reports contain illicit transactions. Then, BlockFi will forcefully shut down.
Sayan Mitra
Sayan Mitra

Sayan is a writer by choice or rather by instincts. He had started as a content writer for an infrastructure development website. Over the years, he has been involved in several versatile projects, ranging from blogging to creative writing, penning down web content to site reviews. Tourism, fashion, real estate, gambling, sports, politics, business proposals, presentation work, technical writing, generalized topics – Sayan has done it all, with his words.