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Uniswap Tokens - Security ...

Are Uniswap Tokens a Security or Not? Experts are divided
CONTENT

  • UNI tokens sparked controversy among crypto experts

  • Byrne’s lawyer asks SEC to deal with Uniswap

  • What will happen to the DeFi market: opinions are divided

International consortium of news organizations developing transparency standards.

The Uniswap team did not have time to present their token. As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More UNI, and has already found itself in the center of discussions and discussions. Some crypto experts suggest the SEC to take action, while others believe that the protocol is the future of crypto finance.

Where the SEC is looking

Crypto lawyer Preston Byrne turned in one of his articles to the representatives of the US Securities Commission (SEC) and asked to check the security of the UNI token, which became the most demanded asset in a matter of hours after the launch. More than 13 thousand protocol participants wanted to receive free tokens, who submitted applications for transactions in the first three hours. This led to an increase in fees on the Ethereum network and significantly slowed down the blockchain..

Uniswap Tokens - Security ...

And here is a new request from Byrne’s lawyer, who believes that the UNI token is dangerous for users. The UNI token airdrop caused real resistance from Byrne, who accused the SEC of being slow and not taking concrete measures against Uniswap.

Such a statement by Birney seemed unfounded to the crypto community. Instantly, a discussion on the security of Uniswap and the use of its token flared up on Twitter.

ShapeShift CEO Eric Voorhees said that no serious lawyer has yet compiled a list of safe and unsafe tokens. They are only limited to references to law and applicable regulations..

To my knowledge there are no reputable lawyers that have ever put out a list of even the top twenty crypto assets, declaring them them either Security or Not Security.

Meanwhile, they say things like "the law is clear" and "securities rules apply."

Show me the list. Anyone. https://t.co/yYuGZHdQ4S

– Erik Voorhees (@ErikVoorhees) September 18, 2020

Voorhees’ opinion was supported by other Twitter users. User @ R2D3X wrote:

“Yes, I have the same question. After so many tweets and articles, there is still no legal analysis on this matter, it is not very legal … “

Users also accused Byrne of hating the freedom that cryptocurrency gives people, and ask him to compile the very list of safe tokens that he has talked about more than once..

DeFi market is a topic for discussion

Uniswap Tokens - Security ...

The rapid growth of the decentralized finance sector is indeed causing a lot of debate and controversy. More recently, the head of marketing at Messari, Connor Dempsey, expressed the opinion that the growth of the DeFi market does not bode well, as people do not understand what is really going on..

Ethereum co-founder Vitalik Buterin compared the growing decentralized finance market to the Fed’s printing press, saying that projects in response to increased demand are forced to create millions of dummy coins.

Richard Rosenblum, the former head of international crude oil trading at Goldman Sachs, believes that the decentralized finance (DeFi) market will soon overshadow Bitcoin in popularity. Former Goldman Sachs manager believes that Bitcoin will continue to develop, but all attention will be on the DeFi market.

In an interview with BNN Bloomberg, entrepreneur and billionaire Mike Novogratz, who runs investment firm Galaxy Digital, drew parallels between DeFi projects and the ambitious electric car maker Tesla. At the same time, he noted that such a similarity causes him concern..

What they think of the DeFi marketDecentralized finance (DeFi) is financial services built on the basis of blockchain technology that offer users access to an open, efficient and … More Russian experts, read here.

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