The SEC or US Securities Exchange Commission began an inquiry into decentralization in operations carried out with cryptocurrencies through Uniswap.
Because mining is essential to the growth and upkeep of Bitcoin, those participating in it are awarded especially when using places like this site.
This platform is being monitored by the legal department of the SEC to be more explicit about the operation and operation regarding the exchange of cryptocurrencies on said platform.
The interest in observing this DeFi system was born after the news was issued about an agreement between the SEC and an organization dedicated to studying blockchain technology to be more arbitrary in the decentralized exchange carried out on this platform.
The SEC and the collaboration of a Chinese company, AnChain, are in charge of verifying and controlling all existing platforms dedicated to financial operations.
Under the stress that Uniswap has on the part of the SEC, it was forced to agree to comply with the legal regulations by which its way of operating as an exchange platform must be governed. Financial.
Decentralization of Digital Currency is the main Criticism of Governments
The investigative process to Uniswap
According to some advisers, these investigative processes do not alarm anyone since their main objective is to verify that the exchange platforms are operating as they should under the corresponding regulations.
It must be clear that when carrying out this investigation, it is not because of errors; on the contrary.
It is to gather the information that can be used to operate as well as possible and avoid failures in DeFi systems.
This collection of information by the SEC is to verify how exchange environments behave and to be able to specify if failures have occurred and how to avoid them.
In general, the SEC takes the initiative to carry out these investigations, concerned about the rapid momentum decentralized operations are gaining worldwide, where the Uniswap platform is the most prominent of the DeFi platforms.
Dissent from Uniswap users
Many users of this platform, seeing the process it is going through when being monitored by the SEC, showed dissatisfaction with it since it is losing its most unique attraction, which is to carry out transactions free of any control imposed by some entity.
Many influential people and active users of the different exchange platforms, such as Bit2me, disagreed with these investigations into the DeFi system, considering them as a strategy to attack the exchange platforms and cryptocurrencies.
Others assume that Uniswap should take action on the matter, and one way to stop this aggression could be to block the account of a US citizen on the platform as a measure of pressure.
So much imposition should not be allowed for fear of being removed from web browsers because if your primary address is blocked, other alternatives exist to access the Uniswap platform.
The platform prohibits some tokens
This platform currently has restrictions on some tokens, which cannot be admitted in its exchange environment, further corroborating its decentralization.
They are clarifying that this measure is only through the web page, the codes are always free, and any token can be part of them at any time.
This strategy is used based on the financial measures currently proposed by the FATF, based on the cryptographic markets, which, added to the controls by the SEC, have increased tension in said market.
All this regulatory system that is being proposed is difficult to implement fully since it would be considered a scam by cryptocurrencies to allow the elimination of one of its advantages with greater acceptability, such as decentralization.
These DeFi systems are characterized by carrying out exchanges and transactions without regulatory entities, an aspect for which users are unwilling to let go and accept the impositions of the SEC and FATF.
The exchange platforms have expressed their support for Uniswap, intending to maintain decentralization in their operations, a security and confidentiality strategy that has characterized them since their inception.
Cryptocurrencies were created to achieve financial freedom. However, due to their excellent operability in the global market, they have suffered severe threats of control and regulation by government, economic, and private entities.
The cryptographic markets will never be controlled entirely since their nature is to function under the free decision of the users without the intervention of a third party that imposes laws and regulations that cause a disadvantage to the free management of the invested capital of the already accepted digital markets.