It's going to get harder for alts to list on the big exchanges - page 4.

Javi_Anibarro

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Quote from: prehisto on October 04, 2019, 09:42:49 AM

This is for US customers only, the rest of the world has not those restrictions.
If you would have paid attention to Coinbase in the past, you would know that they are very slow and cautious about what they are listing, this alliance will be better for them and even help them decide faster than before.

Or practically, almost every international exchanges are like that whether it is they are asking a ton of money or legalization.
It has never been so easy for them to get listed on those big exchanges,
unlike those crappy exchanges such as Gravinex, CB and his peers that can be done as long as you have a few Bitcoin.
personally speaking, this is not a big deal. Because it is created to target those big shots and creating a source of income for SEC itself.
Bittrex is backed by SEC, right?

prehisto

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This is for US customers only, the rest of the world has not those restrictions.
If you would have paid attention to Coinbase in the past, you would know that they are very slow and cautious about what they are listing, this alliance will be better for them and even help them decide faster than before.

Strongkored

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No matter how good they make a benchmark there will definitely be a gap to break the framework they set to determine the points for crypto that are eligible to be entered.

Because it is in the form of a group, it is possible that they do not have a unanimous voice about the evaluation of the crypto.

But hopefully this can reduce crypto whose initial purpose is only to deceive and make the crypto world more developed in a good direction.

Quidat

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Quote from: ?? on ??

I think one of the reason it is going to be hard for altcoins to be listed on exchanges is, the heavy cost that exchanges like Binance are charging, the recent incident which happened of Digibyte shows that. Binance charging 3% tokens of the total supply and $300,000 is a lot of amount.

I also agree with the point which you have mentioned about exchanges rating the project and monitoring the altcoins before listing, this could be counted as fundamental analysis of the tokens before listing but the actual challenge would be convincing these exchanges to get them listed.

Cz did make some response towards to this issue
https://news.u.today/news/binance-cz-responds-to-complaints-of-dgb-coin-founder-about-its-dismissal-community-reacts
For the topic with these big exchanges listing then they do all have the power on what would be their criteria on listing a particular coin
but it wont be a new thing that this will always tied up with some ridiculous listing fees neither upfront or on backdoor.

Eugenar

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Quote from: ?? on ??

I think one of the reason it is going to be hard for altcoins to be listed on exchanges is, the heavy cost that exchanges like Binance are charging, the recent incident which happened of Digibyte shows that. Binance charging 3% tokens of the total supply and $300,000 is a lot of amount.

I also agree with the point which you have mentioned about exchanges rating the project and monitoring the altcoins before listing, this could be counted as fundamental analysis of the tokens before listing but the actual challenge would be convincing these exchanges to get them listed.

In that case of a huge amount of money in return for the exchange listing, it is necessary for only a truly legit and reputable company can be listed to a certain exchange. It is a great way to reduce scam coins being listed, at the same time, provides value to the coin that will going to be listed. Technically, exchanges have also their evaluation of the coins in their databases, they often remove coins or cryptos that are being outperformed in the market.

Gozie51

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The angle that I'm looking at it from is in the area of shit project. Although, popular exchanges require a lot of many or token in the case of binance to list a coin but if the project has no use value, this is another aspect.

GGmith

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I strongly agree with the implementation of the coin system in the Exchange, this will have a good effect on consumers who want to trade crypto and also convenience. I see many tokens or altcoins that don't have daily trading volume and don't have prices but are listed on the exchange.

Bttzed03

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I appreciate the effort to raise the standard but them banding together is like scratching each others back. Does that mean they are not capable in reviewing altcoins on their own in accordance to the SEC guidelines?

When it comes to altcoin listings, I don't see any difference. They will still undergo a review whether it's done by exchanges in collaboration with others or on their own.

alyssa85

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See the following:

https://www.forbes.com/sites/billybambrough/2019/09/30/bitcoin-giants-coinbase-circle-kraken-bittrex-grayscale-and-others-band-together-to-rate-tokens/#68441bac7a01

Quote

Now, bitcoin trading and investment giants Anchorage, Bittrex, Circle, Coinbase, DRW Cumberland, Genesis, Grayscale, and Kraken have banded together to create the Crypto Rating Council in order to better decide which digital assets can and cannot be traded on their platforms.

The group have created what they call a "scalable, points-based rating system" to help define whether a cryptocurrency is or is not a security.

The system will use a set of several dozen questions, "derived directly from SEC guidance and case law."

"We also worked hard to focus our framework on objective, repeatable, fact-driven questions that can be answered consistently by technical experts across different assets and over time," Coinbase wrote in a blog post announcing the council.

The system will give bitcoin and similar digital tokens a score between one and five, with a score of one meaning the council’s independent analysis suggests the asset has few or no characteristics consistent with a traditional regulated security.

So in addition to paying them a lot to get listed, the developers of new alts need to jump through these new opaque hoops.

Topic: It's going to get harder for alts to list on the big exchanges - page 4. (Read 568 times)