Cryptocurrency exchange Bittrex has published criteria …
Bittrex cryptocurrency exchange publishes token listing criteria
The American cryptocurrency exchange Bittrex has released the criteria for the listing and delisting of tokens. Writes about this CoinDesk.
The CEO of the exchange Bill Shikhara previously spoke about this during a speech at the CES 2018 event.Then he said that the company is looking at whether the token is innovative, whether the listing of such a token violates the requirements of the law and who is developing it.
According to the new requirements of Bittrex, before the exchange considers the inclusion of any token in its exchange list, its developers are required to provide technical information about the token itself, as well as data of at least one team member..
Tokens admitted to the next stage of consideration will undergo a legal review process, which should help Bittrex to ensure that they can be placed for trading in the United States. After this review, a specialized council will consider the features of the blockchain of the presented cryptocurrency, its scope, value for the market and the reputation of the team..
“We have to make sure that if something goes wrong, these guys can fix it, and sometimes they have to fix it on the fly. A capable development team and a capable leadership team are essential in the listing process, ”explained Shikhara.
Bittrex also provides a partial list of reasons that could force an exchange to exclude a token from the list of digital assets available for trading. These include legislative changes, low community interest, hacking or failure of the blockchain and cryptocurrency-related technologies, the team’s refusal to support their own token, low trading volumes, suspicious market activity and user complaints..
If any token meets the delisting criteria, usually Bittrex will not delete it immediately, but after about 2 weeks. After the direct removal of the token, traders will have another 2 weeks in order to withdraw their assets.
Recall that earlier Bittrex made a rather controversial decision to remove the SAFEX token, after which several more cryptocurrencies left the platform, including APX (APX), Bitcoindark (BTCD) and Mysterium (MYST).
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