Uniswap Founder Calls US Approach to Crypto Regulation ‘Sad and Unfortunate’

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Uniswap founder Hayden Adams said that the United States has not been very thoughtful or very good in its approach to regulating the crypto industry, which is kind of sad and unfortunate.

Adams made the comments during an appearance on the Unchained podcast on June 20.

He said that many countries around the world are taking steps to study DeFi and understand it, but the United States is mainly using it for political purposes, unfortunately.

Adams said the US lags far behind countries like France and the UK that are thoughtful in their approach to regulating and interacting with DeFi. Both countries are in advanced stages of implementing new regulatory frameworks designed specifically for the crypto industry and its nuances.

The Uniswap founder said the company had considered setting up offices outside the United States amid growing regulatory uncertainty, but there were no plans to move outside the country for the moment.

Uniswap v4 will not be open source initially

Adams spoke in detail about the upcoming Uniswap v4 update and why it won’t initially be open source, despite everyone being big fans of it.

However, the code will eventually become fully open source within four years or less similar to v3. Additionally, Uniswap token holders can vote through governance to make the code open source at any time.

He said previous versions of Uniswap were fully open source and remain so, but the company’s experience with code forks has shown that a higher level of caution is needed.

Adams added that the philosophy of open source did not take into account that there would be thousands of economically incentivized forks in a few days, which are often of very poor quality.

Adams said:

There was a time when there were 20 Uniswap forks in a day and they were all creating incentives.

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