- The reason was the launch of their new wallet
- DEX promoted it on German Twitter
- What violated the rules of advertising
German financial regulator Bafin began investigation against Uniswap. A couple of days ago, the exchange announced its own wallet and offered the Germans early access. BaFin regarded this as a violation of the law.
It’s about this tweet that appeared on the German Uniswap account:
In the message, the exchange calls for downloading a new product. But under German law, only licensed crypto providers can advertise their services on the local market.
The investigation is hindered by the decentralized nature of the exchange. However, Uniswap Labs is headquartered in New York, so the regulator can file a complaint with the US.
Trouble at Uniswap
For the crypto exchange, the problem with the German financial regulator is not the only obstacle. Much more serious is the issue with Apple. They will not endorse Uniswap’s wallet app support in any way. For now, customers can only download the beta version through the Testflight developer platform. But this is a temporary method, because without Apple’s approval, the application does not work fully.
The final version of the software for IOS is completely ready. But it was rejected a couple of days before the scheduled launch. Uniswap says they have “100%” met Apple’s requirements, but have not yet received a green light.
