Uniswap founder: Permissioned Uniswap v4 pools are the new gateway for compliant on-chain US stock trading.

BlockBeats news, September 17: Uniswap founder Hayden Adams stated: What matters most today for AMMs (automated market makers) is not the text of the SEC's "innovation exemption," but the accompanying opinion letter from Commissioner Hester Peirce. It states: "This order is not aimed at decentralized finance. Truly decentralized systems driven by autonomous software do not trigger the core concern under securities laws that 'you entrust to an intermediary, and the intermediary may be foolish, negligent, or bought off.' Investors using permissionless smart contracts for peer-to-peer transactions do not need an exemption."

Hayden interprets this as: ordinary permissionless Uniswap is not in this sandbox, and it never needed to apply for an exemption in the first place. The exemption applies to permissioned liquidity pools on Uniswap v4, which can be chosen as a path when assets and users need a compliant channel. He believes that permissioned Uniswap v4 pools are the new entry point for compliant trading in the United States.