GDAX Exchange sets criteria for token listings

   299

In its new Digital Asset Framework, published today, GDAX sets out a wide range of criteria that must be met by assets for possible inclusion. These include whether the asset is consistent with the mission and values ​​of GDAX, to whether listing the asset would be legal under U.S. securities laws.

While tokens classified as securities or mostly created for fundraising will not be considered, those who have utility will have a "clear and compelling reason" for the token to exist.

According to the document, the exchange will also assess the security and liquidity levels of each asset, the structure of the token scheme and the transparency of the project.

However, compliance with the criteria is not a guarantee, and GDAX declares that it reserves the full right to list, not list, or de-list any asset for trading on GDAX, regardless of how the criteria in this structure may apply to the asset.

The general manager of Coinbase and the head of GDAX Adam White explained in the blog post that the exchange will add assets, which, in his opinion, will be coordinated with the framework and contribute to the company's mission to create an open financial system for the world.

White explained that the framework was designed to enhance the company's transparency in response to customer questions about its process of selecting new assets for support. According to the post, at present there are more than 1100 digital currencies on various exchanges.

While this framework outlines the factors that GDAX can take into account when choosing an asset to list, White said the company will continue to focus on protecting its users' investments and meeting regulatory requirements.