Summary: Uniswap, a notable decentralized finance (DeFi) platform, adheres to OFAC sanctions, restricting access in certain countries, including Belarus, Cuba, Iran, Iraq, North Korea, Sudan and others. Despite these restrictions, it remains widely accessible, including in the U.S., without requiring Know Your Customer (KYC) procedures.
What Countries are Restricted by Uniswap?
To align with the Office of Foreign Assets Control (OFAC) sanctions, Uniswap has implemented geographic restrictions on its platform. As of August 2022, users residing in certain countries affected by U.S. government sanctions are prohibited from using Uniswap's services. These countries include:
- North Korea
- Côte d'Ivoire
This decision by Uniswap underscores the platform's commitment to complying with international legal frameworks and regulations, specifically those established by OFAC. For individuals interested in using Uniswap, it's essential to be aware of these restrictions and to consult Uniswap's official communications for the most up-to-date information.
Is Uniswap Available in the US?
Yes, Uniswap is available for use in the United States. This platform, known for its decentralized and permissionless nature, operates without the need for Know Your Customer (KYC) procedures. Outside the United States, Uniswap maintains broad accessibility as well, with the exception of countries listed under the OFAC sanctions.
This approach reflects Uniswap's commitment to providing a decentralized finance service that is compliant with international regulatory standards, while also making it easily accessible to a global audience, particularly in regions where such services are legally permissible.
What Country is Uniswap Based?
Uniswap, founded by Hayden Adams, is based in the United States, with its front-end operations managed by Uniswap Labs, located in New York. This positioning in one of the world's major financial centres underscores the platform's integration into the broader landscape of decentralized finance (DeFi).
As a leading DeFi platform, Uniswap operates within the regulatory and legal frameworks of the U.S., while offering its services globally, adhering to international standards and sanctions. The involvement of Uniswap Labs in New York plays a crucial role in guiding the platform's development and compliance strategies, particularly in the dynamic and evolving domain of cryptocurrency and DeFi.
Uniswap, a central figure in decentralized finance (DeFi), exhibits notable trading volumes. Uniswap V3 reports a 24-hour volume of $907.75 million and a 7-day volume of $10.652 billion, with a cumulative volume reaching $1.207 trillion. Uniswap V2 also maintains significant trading, with a 24-hour volume of $94.27 million and a 7-day volume of $922.83 million, contributing to a total of $559.212 billion. These statistics highlight Uniswap's key position in the DeFi landscape and its widespread usage in the cryptocurrency sector.
In conclusion, Uniswap demonstrates a strong commitment to adhering to international regulations, particularly those of OFAC. While enforcing geographic restrictions in compliance with U.S. sanctions, Uniswap remains accessible in the USA and other regions outside the OFAC list, offering a permissionless and KYC-free experience. Based in New York and founded by Hayden Adams, Uniswap's impressive trading volumes across its versions underscore its significant role and widespread acceptance in the DeFi markets.