Binance Tightens Token-Listing Process
Binance Holdings Ltd. has increased the requirements for listing new digital tokens, aiming to improve investor protections on its platform. Crypto projects must agree to a longer “cliff period” during which no coins can be sold, set aside more coins for market makers, and make a security deposit.
Binance has clarified changes to token listings requirements, with varying requirements between deals. Binance denies asking for a greater share of tokens for market makers, stating project teams decide this themselves.
Binance’s stricter rules have not negatively impacted its share of spot crypto trading, which has recovered from a year-long slide, and it has widened its lead in listings among major exchanges.
Executives involved in listings on Binance have expressed concerns that the changes could undermine their profitability and make listing new tokens more onerous. They have verbally complained to Binance executives about the tougher requirements. Binance recently agreed to pay a $4.3 billion US fine over money-laundering violations.
(With inputs from Shikha Singh)
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