The head of the largest US cryptocurrency exchange has revealed the company’s strategy for listing new digital assets on its platform.
In an interview with Rex Fridman, Coinbase CEO Brian Armstrong said the first step in listing an altcoin on an exchange is determining whether the asset qualifies as an unregistered security. said.
“We’re basically doing a legality test. ‘Do you think this is a security?’ If so, it can’t be listed on Coinbase. And there is a very rigorous process that we go through for that.
Under current US law, we cannot do that. Obtained a broker-dealer license from the SEC. We are working with them to try and get it operational and hopefully one day we will be able to trade real crypto securities, but today that is not possible in the US. “
Armstrong says security comes after legality. If all checks out, crypto billionaires are more or less ahead of coinbase, listing assets as part of their mission to list as many assets as possible, and endorse any of the altcoins. I want to move away from the idea that
Armstrong said there will eventually be millions of cryptocurrencies, and Coinbase has established itself as the Amazon of cryptocurrencies, with a vast array of products, as long as they are not fraudulent or dangerous. We anticipate that we may aim to provide
Next, we look at cryptocurrency cybersecurity. Do you think there is something wrong with the smart contract, or is there a way someone can manipulate it without the customer’s permission?
We also look at some factors regarding compliance, such as the actor behind it and any kind of criminal record. If we believe it meets our listing criteria, basically this test of legality, and all that for customer protection, we want the market to decide at that point, so we want to list it. I think
It’s like Amazon where a product might have 3 or 5 stars, but when you start getting 1 star consistently it’s probably fraudulent or defective or something, and Amazon will tell you that If not, you’ll want to let the market decide what these are
My guess is that there will be millions of these assets over time, so basically I hope every addition in the future doesn’t make the news. “
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