NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

This FATF guidance could “wreak havoc” on Uniswap operators

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Uniswap UNI token symbol of the DeFi project cryptocurrency them

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

International body Financial Action Task Fork (FATF) has issued new guidance for decentralized applications (DApps). Its implications could directly affect the DeFi sector and could have consequences for DApp “operators” such as Uniswap, Sushiswap, and others.

If you're a shareholder of Uniswap (or MakerDAO), then you're likely a VASP. And VASPs (i.e. Virtual Asset Service Providers) are responsible for setting up anti-money laundering controls.

This comes courtesy of yesterday's FATF draft guidance: https://t.co/1Zg6frzH77 pic.twitter.com/xJEIetNAZt

— John Paul Koning (@jp_koning) March 20, 2021

According to the agency’s definition and its standards, a DApp is software. However, the “entities involved” with the DApp can be Virtual Asset Service Providers (VASP). The guidance claims:

(…) a person that conducts business development for a DApp may be a VASP when they engage as a business in facilitating or conducting the activities previously described on behalf of another natural or legal person. The decentralization of any individual element of operations does not eliminate VASP coverage if the elements of any part of the VASP definition remain.

Attorney Gabriel Shapiro addressed potential consequences for the blockchain industry if the recommendations are implemented. Shapiro said:

Writing & deploying a smart contract (=free speech) is different from running a business with that smart contract (regulated).

Claiming that FATF recommendations could “wreak havoc” in venture finance and the blockchain industry if adopted, Shapiro added:

“a one-time sale of a VA makes you a money services business” thing has never made a lick of sense and seems inconsistent with FinCEN’s 2019 guidance.

Although FATF can only make recommendations or suggestions, these are internationally adopted by many regulators. Therefore, Shapiro believes they can have a real effect on the blockchain industry if u operators, i.e. Uniswap, are blacklisted by the body. Shapiro added:

I love DeFi and I’m very anti-KYC etc. But “repeal these laws just for DeFi because it makes people more free by providing plausible deniability” is not going to be persuasive to a person who believes the laws in question are good ones.

Member countries can apply sanctions, prohibitions and take other measures if the FATF suggests that any entity has “lost control” over compliance and money laundering prevention. Legal expert Stephen Palley said:

as some of us have been saying since the dawn of time, muh decentralization is apparently not yet a persuasive strategy to avoid AML/KYC obligations.

UNI on a 30-day rally

Data from Tradingview indicates that UNI has made significant gains (51.6%) over the last month. Currently, UNI is trading at $32.71. Although its performance in the last 24 hours is negative with losses of 1.3%.

Uniswap UNI
UNI with significant gains in the past month. Source: UNIUSD Tradingview

The good performance can be attributed to the release of Uniswap’s third iteration. Without a fixed deployment date, Uniswap v3 has caused great hype among its users. Uniswap inventor Hayden Adams is expected to provide details on the upgrade soon.

If I have to go another week without publicly announcing details of Uniswap v3 I might go insane

— hayden.eth 🦄 (@haydenzadams) March 19, 2021

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Best Presale

今買うべきアルトコイン: 10倍の成長が期待できる3つのICOプロジェクト

仮想通貨市場は常に進化しており、新しい革新的なプロジェクトが投資家の注目を集めています。 その中でも、特に有望な3つのアルファプロジェクトが際立っています。これらのプロジェクトは、10倍から100倍の...

Yohei Hanazato 2 months ago
Pepe Today

PEPEが過去24時間で11%急騰!仮想通貨投資に最適な新たなプレセールが注目を集める

Pepe (PEPE)は、人気のあるミームコインとして知られ、過去24時間で11.4%の上昇を記録しました。これは、過去数日間の下落を取り戻そうとする強気派の動きによるものです。 PEPEの過去1週間...

Yohei Hanazato 2 months ago
新たな金としてのビットコイン – 米大統領の備蓄と将来計画 & 新しい仮想通貨はどのように話題に乗るのか

仮想通貨 1000倍のチャンス?ビットコインが$80Kに下落 – BTC Bull Tokenは最適な代替案か?

ビットコインが**$80,000まで急落**したことで、多くの投資家が新たな仮想通貨の投資機会を模索しています。BTC Bull Token ($BTCBULL) は、ビットコイン価格と連動した報酬シ...

Yohei Hanazato 2 months ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano: Neues Allzeithoch im März?

wernerwassicek 2 months ago
Ethereum, ETH, Crypto

Ethereum Risks Another 15% Correction After Fall Below $2,000 – What’s Next For ETH?

Rubmar Garcia 2 months ago
Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?

Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?

Samuel Edyme 2 months ago

Premium Partners

Top Brands

Press Releases

  • LimeChain

    LimeChain – Builders of Web3 Step into the FIA...

    2 months ago
  • Ripple XRP Investors Making $13,000 Per Day with This Cloud...

    2 months ago
  • How To Make $99k Daily Despite Crypto Market Fluctuations...

    2 months ago
  • EstateX Sells Out the First Tokenized Property in Under...

    2 months ago
  • BlackFort Exchange Network (BXN) Joins Biconomy.com...

    2 months ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.