Upbit CEO: Crypto Exchanges Should Screen Coins Before Listing

2018-9-13 15:30

Not a day passes in crypto land without an announcement from an exchange about a new listing. The decision to list an asset will have an immediate effect on its price as it becomes accessible to a greater number of investors.

Exchanges Should Have More Responsibility

With hundreds of new crypto tokens entering the markets, coinmarketcap.com currently lists 1944, it is becoming increasingly important to weed out the digital wheat from the chaff. Exchanges are playing a vital role in this process by being the arbiters of what gets listed on their trade platforms.

Lee Sir-goo, CEO of Dunamu, which operates one of South Korea’s top crypto exchanges, Upbit, spoke to the Korea Herald about screening worthwhile blockchain projects and tokens;

“Stock exchanges like the Kosdaq and Nasdaq all have strict guidelines to determine which company stocks they handle, to protect investors. The same goes for cryptocurrency exchanges. There are more than 20,000 crypto coins existing around the world today. It’s one way to list any coin as long as a listing fee is paid. But I believe the role of a crypto exchange is to screen for and pick out which is a good blockchain business and token, with aims to help users find the best investment opportunities,”

Speaking at a press conference ahead of Upbit’s inaugural developer’s conference on Jeju Island this week, Lee added that this was especially important for exchanges that support fiat to crypto trading. This would ensure more transparency in the trading process and prevent scams and money laundering.

Lee joined Upbit in January and has guided the exchange though a minefield of regulatory uncertainty as Korea constructs its framework for the crypto industry. The exchange has been embroiled in a probe into money laundering but was cleared by authorities in May.

He added that he recognized governmental concern over unregulated digital assets and the need to protect investors and added that the company would be investing 100 billion won ($US88 million) into the industry over the next three years. “Blockchain is still a new industry, and there are so many new players and products being released every day. We plan to continue investing in this sector, as investment is essential to helping the blockchain business ecosystem grow,” Lee commented.

Lee told reporters that they were not planning an ICO at the moment and that having their own coin would be a conflict of interest. Rival exchanges Binance and Huobi have done very well out of their own native tokens, initially launched to facilitate trading without having to go via BTC or ETH.

 

Image from Shutterstock

The post Upbit CEO: Crypto Exchanges Should Screen Coins Before Listing appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0062957 (-100%)

crypto should listing exchanges ceo new coins

crypto should → Результатов: 126


Фото:

Wall Street Cozying Up to Bitcoin Could Open Up a Can of Worms Nobody Wants to See

With a number of Wall Street heavyweights beginning to open up to the crypto space, mainstream adoption of Bitcoin and other popular tokens seems almost inevitable at this juncture. But is this actually a positive development that investors should look forward to? Perhaps not, say some experts who seem convinced that the financial industry’s embrace […] Wall Street Cozying Up to Bitcoin Could Open Up a Can of Worms Nobody Wants to See was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-9-13 16:59


Why Long-term Crypto Investors Should Capitalize on the Ongoing Bearish Market Trend

The current bearish market trend in the cryptocurrency industry has left many enthusiasts pondering how long this plummeting will continue, or if the markets will ever pick up again. To make matters worse, some experts are alleging that Bitcoin is on its deathbed, and the recent drastic decline in the coin’s value seems to affirm […]

2018-9-12 22:39


Фото:

Social Media Crypto Projects Like Reddcoin (RDD) Should Thrive In The USA

There is a disparity between how lawmakers in the US regulate the financial sector and the tech sector. An established banking industry makes it a hard climate for newcomers to succeed. Tech giants, like Facebook, Twitter, and Google exploit their position in a still nascent industry (as well as regulators’ ignorance) to enjoy limited oversight […] The post Social Media Crypto Projects Like Reddcoin (RDD) Should Thrive In The USA appeared first on Crypto Briefing.

2018-9-11 18:42


Фото:

Cyber Criminals Are Finding Ways To Steal Your Cryptos

You stored your Bitcoin private keys (CRYPTO: BTC) in a safety deposit box so you should be good, right? Not so fast. Criminals are getting more manipulative in how they access your cryptos. Hacked Browsers Can Steal Your Passwords This week, a Google Chrome extension for file-sharing service MEGA was hacked by cyber criminals who are potentially stealing private keys and login passwords, among other information.

2018-9-8 23:00


Фото:

Leave Your Inheritance To Litecoin

Inheritance and cryptocurrency, it’s a grey area but it’s one that could become a very big deal in a few years time. Is there an advantage in using cryptocurrency in a will, over standard cryptocurrencies? Indeed, there are already services out there that does this for you, is it a wise move though? This sort of investment, is like any investment, it’s risky and it requires a bit of research.

2018-9-3 21:30


Фото:

Solving Scalability Is The Key For Litecoin Adoption Say’s Charlie Lee

Litecoin is one of the cryptocurrencies that really does fancy its own chances with regards to cryptocurrency adoption. Because Litecoin is fast and easy to obtain, plus it’s reinforced by a community that strives to #PayWithLitecoin, LTC is often seen as one of the critics choices when asked which cryptocurrency will be adopted first (second to Bitcoin Cash, generally).

2018-8-28 15:30


Фото:

Coinsquare To Enter European Markets By 2019, Bringing BTC, ETH And XRP With It

The biggest cryptocurrency exchange in Canada, Coinsquare, have announced in a press release that they now plan on entering European markets by Q4 2018, meaning that come 2019, Coinsquare should be readily available across a number of European countries, opening up for the trade of Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, Dogecoin and Dash.

2018-8-24 15:00