Coinbase Starts Supporting SUI Trading On May 18

Key Points:

• Coinbase announced that it will add support for SUI on its platform.
• The exchange will start allowing trading of SUI tokens from May 18.
• Currently, Coinbase is still facing challenges from the SEC.

Coinbase, the biggest cryptocurrency exchange in the United States, has just added SUI support to its trading platform. This news is a direct outcome of the company’s main idea, which is to provide trustworthy crypto assets to its retail clients and to increase the usage of Web3.

If the liquidity criteria are fulfilled, the transaction will begin on or after May 18, 2023, at 9:00 a.m. PT. The SUI-USD trading pair will be introduced gradually.

The SUI token, according to the release, will be classified as “Experimental,” which is designated for cryptocurrencies that are either new to the crypto market or have a low trading volume in contrast to other well-known cryptocurrencies.

Recently, Coinbase has been aggressive in adding other coins to its listing plan. Previously, the crypto exchange added Osmosis (OSMO) to its roadmap, a decentralized exchange (DEX) created for the Cosmos ecosystem that is presently seeking listing permission.

This comes only weeks after Binance, the world’s biggest crypto trading platform by market capitalization, announced the adoption of the SUI token and the following commencement of token farming on its platform.

However, the memecoin has been gaining popularity recently, and PEPE is still waiting for a signal from the exchange. Meanwhile, Binance has supported PEPE and FLOKI with full trading features.

In related news, Coinbase’s relationship with the Securities and Exchange Commission (SEC) in the United States is deteriorating irreparably.

After the dynamics between the two shifted significantly over the last year and a half as a result of the asset agency dramatically ramping up its crypto regulation by enforcement approach, the at-odds actors are now fighting in court over establishing regulatory clarity for the digital sector in terms of what operational compliance entails.

The US agency issued a court order this week attempting to reject Coinbase’s request for a response to its rules petition while admitting that it would continue to utilize enforcement actions as a replacement for rulemaking for the foreseeable future.

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Harold

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