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The agreement places full responsibility on users to determine and comply with all applicable laws, regulations, KYC requirements, transfer restrictions, and tax obligations in their jurisdiction, regardless of whether those restrictions are technically enforced at the protocol level.
This analysis describes what Uniswap's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes that users bear sole legal and tax compliance responsibility for all transactions conducted through the Products, including in jurisdictions where asset trading may be restricted or regulated; this allocation of compliance responsibility does not itself determine how regulators may characterize the obligations of Uniswap Labs, and users operating in regulated markets should independently assess their compliance posture.
The updated terms establish new contractual representations that users must make when agreeing to the agreement. Users now represent that they are not subject to economic or trade sanctions administered by any governmental authority, including OFAC lists, and that they are not citizens or residents of sanctioned jurisdictions. Users also represent that their access and use will comply with all applicable laws and will not be used to conduct or facilitate illegal activity. These representations are legally binding attestations that may be verified. Users in OFAC-sanctioned countries cannot truthfully make these representations and would be unable to use the platform.
View change record →The updated terms establish new restrictions on user conduct and add affirmative representations regarding asset eligibility. Users trading tokenized real-world assets (such as tokenized stocks, ETFs, or commodities) must now represent that they have reviewed issuer information and comply with any restrictions on trading or holding those assets. The terms also explicitly prohibit circumventing access restrictions, including geographic blocks and transfer limitations imposed by token issuers. By continuing to use the platform, users affirm they are legally eligible to trade tokens under their jurisdiction's laws.
View change record →The updated terms establish that Uniswap does not warrant that any digital asset accessible through its products is available for trading, holding, or transacting in your jurisdiction, or that you are legally permitted to do so. The revised language places the burden on you to determine whether a digital asset is lawfully available to you and to comply with any applicable transfer restrictions imposed by asset issuers or regulatory authorities. This means accessing or trading an asset through the Uniswap interface does not constitute Uniswap's determination that you are eligible to do so under your local laws.
View change record →Under this clause, users are responsible for determining whether their trading activity complies with applicable law, including sanctions screening, KYC requirements, and transfer restrictions, and for determining, reporting, and remitting any applicable taxes on transactions initiated through the Products. Uniswap Labs does not provide eligibility determinations or tax guidance.
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"By accessing or using any of our Products, you agree that you are solely and entirely responsible for compliance with all laws and regulations that may apply to you, including any transfer or trading restrictions, KYC requirements, whitelisting requirements, or jurisdictional restrictions imposed on or applicable to any digital assets you transact in, whether or not such restrictions are technically enforced by the relevant asset, smart contract, or protocol. Your use of our Products or the Protocol may result in various tax consequences, such as income or capital gains tax, value-added tax, goods and services tax, or sales tax in certain jurisdictions. It is your responsibility to determine whether taxes apply to any transactions you initiate or receive and, if so, to report and/or remit the correct tax to the appropriate tax authority.Excerpt from Uniswap's Terms of Service
REGULATORY LANDSCAPE: This provision engages OFAC sanctions compliance requirements, applicable securities and derivatives regulations enforced by the SEC and CFTC, and tax reporting obligations administered by the IRS and equivalent authorities in other jurisdictions. The agreement's representation requirement that users are not on OFAC restricted party lists supplements but does not replace applicable legal obligations. FATF guidance on virtual asset service providers and applicable anti-money laundering frameworks may also be relevant depending on how regulators classify the Products. GOVERNANCE EXPOSURE: High. Placing full compliance responsibility on users, including KYC and sanctions screening, does not itself insulate Uniswap Labs from regulatory obligations that may attach to the operation of a trading interface under applicable law. Institutional users relying on this provision to satisfy their own compliance frameworks should assess whether user-side representations are sufficient for their risk management requirements. JURISDICTION FLAGS: EU users are subject to MiCA (Markets in Crypto-Assets Regulation) and AMLD requirements that impose compliance obligations on service providers regardless of contractual allocation to users. UK users face FCA regulatory requirements. U.S. institutional users may face BSA, FinCEN, and state money transmission law obligations that cannot be fully addressed through contractual user representations. CONTRACT AND VENDOR IMPLICATIONS: Enterprise compliance teams should assess whether this user-side compliance allocation is operationally supported by their internal KYC, sanctions screening, and tax reporting infrastructure, particularly for employees or clients accessing the Products in a business context. The absence of Uniswap Labs-provided eligibility verification tools means users must rely on independent compliance processes. COMPLIANCE CONSIDERATIONS: Legal and tax teams should evaluate the adequacy of existing transaction monitoring and tax reporting procedures for digital asset transactions conducted through the Products, including whether the range of tax consequences identified in the agreement (income tax, capital gains tax, VAT, GST, sales tax) is addressed in current compliance programs.
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This provision establishes that users bear sole legal and tax compliance responsibility for all transactions conducted through the Products, including in jurisdictions where asset trading may be restricted or regulated; this allocation of compliance responsibility does not itself determine how regulators may characterize the obligations of Uniswap Labs, and users operating in regulated markets should independently assess their compliance posture.
Under this clause, users are responsible for determining whether their trading activity complies with applicable law, including sanctions screening, KYC requirements, and transfer restrictions, and for determining, reporting, and remitting any applicable taxes on transactions initiated through the Products. Uniswap Labs does not provide eligibility determinations or tax guidance.
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