2018-9-27 17:14 |
Claiming that the goal of the exchange is to list all assets that are compliant with the law and that meet its standards, Coinbase introduced a new listing policy. The exchange intends to create a secure and trustworthy network for users to get access to a more open blockchain-based ecosystem. Coinbase currently supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It is also exploring the option to add several new assets to the platform.
With this shift in process, our customers can expect us to list most high-quality assets over time. If you’ve developed a new digital asset, and it has passed an independent legal and security review, apply to list your asset on Coinbase today: https://t.co/sIXzqXAuiu pic.twitter.com/YoTDkWtt3E
— Coinbase (@coinbase) September 25, 2018
Which Coins Is Coinbase Looking For?Thousands of digital assets of all types, including coins, tokens, forks, stablecoins, and even collectibles, are available today. Coinbase claims that it receives several requests to add new assets to its platform but suggested that it wants to do it in a secure and compliant way.
The new process of adding coins will let Coinbase rapidly add those assets that are compliant with local law. This new process will be done by responding to requests for listing through a jurisdiction-by-jurisdiction approach. This could be partly because of the lack of a federal cryptocurrency framework in the US, and the existing patchy state-wise regulation doesn’t help Coinbase’s cause. The exchange noted that some new assets listed on its platform might only be available to a select audience.
What Will the New Process Be Like?The new Coinbase listing process will begin with an application form that coin issuers should submit. The form will then be evaluated by the exchange against its digital asset framework. Coinbase explains:
“The application form and the digital asset framework will be regularly updated, and our form will indicate the latest version of the framework we are evaluating against.”
The exchange will not ask for an application fee at the start. But it could impose one afterward in order to pay for the legal and operational costs for evaluating and listing new assets. The fee will be determined based on the volume of submissions. In some cases, the exchange could list an asset without an application if it finds sufficient reasons to do so.
The company also said that as announcements for listings will become more frequent, it will announce the addition of new assets only on or just before the public launch. The company assures that it will make announcements “early enough to allow for sufficient liquidity” on the exchange.
Finally, Coinbase ended its post with the following remarks:
“We think of Coinbase as the global bridge from fiat to crypto, from the fragmented financial system of today to the open financial system of the future. We believe this new listing process allows us to quickly add assets while remaining compliant with local law and continuing to offer our customers the safe, high-quality experience they have come to expect from Coinbase.”
Coinbase’s New Coin Listing Process Aims to Bring High-Quality Projects Onboard was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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