Coinbase shared its asset listing process after insider trading allegations

Coinbase shared its asset listing process after insider trading allegations

Coinbase outlined their asset listing process, which includes no costs. In a blog post published on Tuesday, the company stated that issuers will not be charged to apply for and list their assets on the crypto market.

To list a cryptocurrency, asset issuers must first open a Coinbase “Asset Hub” account and fill out an application with the necessary information.

The Digital Asset Listing Group, an unique in-house committee, then takes a judgment based on a study of compliance, legal, and security issues. According to the firm, CEO Brian Armstrong and other board members are not voting members of the group.

“Our philosophy is to list every safe and compliant asset — we’re not here to pick winners or losers,” the firm stated in its blog.

The asset is listed on Coinbase once it has been approved by the DALG. The crypto exchange clarified that acceptance does not indicate endorsement of the asset, but only that it fits the exchange’s listing standards. The crypto exchange also said that an asset might be delisted if it fails to satisfy the appropriate requirements or if new information is discovered.

The asset listing process was made public approximately a month after Coinbase announced a change to its policy in the wake of insider trading allegations.

Some analysts noted that substantial quantities of money were pumped into tokens just before their Coinbase listings were published. Armstrong accepted the allegations, noting that the crypto firm works with outside law firms that use blockchain forensic research to spot unauthorised behavior by Coinbase employees.

The issue isn’t limited to CoinBase. The Wall Street Journal published a research in May from a tiny New York compliance firm that found insider trading activity on Binance, the world’s largest crypto asset market.

Coinbase has 212 assets available for custody and 172 assets available for trade. According to Tradingview statistics, its stock has dropped 72.8% this year. The total trade volume in the first quarter was $309 billion, down 44% from the previous quarter.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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