Coinbase has released new listing rules for cryptocurrencies. The San Francisco-based crypto exchange is providing for the moment only a few cryptocurrencies, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. The company wants to offer in the future a just system for multiple cryptocurrencies. According to them, the listing of new assets will differ depending on each situation.
Coinbase currently has listed Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. In the future, however, the platform should grow to significant heights, as the company is hinting. To avoid legal issues, the crypto exchange is currently working on a system for listing new tokens and cryptocurrencies. This new system will decide on a case-by-case basis whether the new asset will be added to the platform, depending on the legal jurisdiction of the applicants:
“This means that some new assets on the platform will only be available to customers in selected jurisdictions,” said Coinbase the announcement.
The cryptocurrency exchange also stated that there would be no listing fees at the beginning. In any case, the exchange promised a quick response to any customer requests for applications.
The company explained that the companies and projects that want to list their cryptocurrencies on Coinbase must meet some requirements. For example, they must be designed for decentralization and “economic freedom.” The code has to be open source, and have a working prototype.
Also, if the team is complying with all the government regulations and the project has excellent scalability they will receive extra points.
While this is positive news for the crypto market and also for the company, which is trying to expand its portfolio and its revenue, a crucial question arises. Can Coinbase offer the new assets legally in the US?
The company can offer new cryptocurrencies as long as the asset is not classified as a security.
In conclusion, the projects will have have to examine the guidelines before applying for a listing on Coinbase.