It's going to get harder for alts to list on the big exchanges

[alyssa85]

See the following:

https://www.forbes.com/sites/billybambrough/2019/09/30/bitcoin-giants-coinbase-circle-kraken-bittrex-grayscale-and-others-band-together-to-rate-tokens/#68441bac7a01

Now, bitcoin trading and investment giants Anchorage, Bittrex, Circle, Coinbase, DRW Cumberland, Genesis, Grayscale, and Kraken have banded together to create the Crypto Rating Council in order to better decide which digital assets can and cannot be traded on their platforms.

The group have created what they call a "scalable, points-based rating system" to help define whether a cryptocurrency is or is not a security.

The system will use a set of several dozen questions, "derived directly from SEC guidance and case law."

"We also worked hard to focus our framework on objective, repeatable, fact-driven questions that can be answered consistently by technical experts across different assets and over time," Coinbase wrote in a blog post announcing the council.

The system will give bitcoin and similar digital tokens a score between one and five, with a score of one meaning the council’s independent analysis suggests the asset has few or no characteristics consistent with a traditional regulated security.

So in addition to paying them a lot to get listed, the developers of new alts need to jump through these new opaque hoops.

[Bttzed03]

I appreciate the effort to raise the standard but them banding together is like scratching each others back. Does that mean they are not capable in reviewing altcoins on their own in accordance to the SEC guidelines?

When it comes to altcoin listings, I don't see any difference. They will still undergo a review whether it's done by exchanges in collaboration with others or on their own. 

[GGmith]

I strongly agree with the implementation of the coin system in the Exchange, this will have a good effect on consumers who want to trade crypto and also convenience. I see many tokens or altcoins that don't have daily trading volume and don't have prices but are listed on the exchange.

[Gozie51]

The angle that I'm looking at it from is in the area of shit project. Although, popular exchanges require a lot of many or token in the case of binance to list a coin but if the project has no use value, this is another aspect.

[Eugenar]

I think one of the reason it is going to be hard for altcoins to be listed on exchanges is, the heavy cost that exchanges like Binance are charging, the recent incident which happened of Digibyte shows that. Binance charging 3% tokens of the total supply and $300,000 is a lot of amount.

I also agree with the point which you have mentioned about exchanges rating the project and monitoring the altcoins before listing, this could be counted as fundamental analysis of the tokens before listing but the actual challenge would be convincing these exchanges to get them listed.

In that case of a huge amount of money in return for the exchange listing, it is necessary for only a truly legit and reputable company can be listed to a certain exchange. It is a great way to reduce scam coins being listed, at the same time, provides value to the coin that will going to be listed. Technically, exchanges have also their evaluation of the coins in their databases, they often remove coins or cryptos that are being outperformed in the market.

[Quidat]

I think one of the reason it is going to be hard for altcoins to be listed on exchanges is, the heavy cost that exchanges like Binance are charging, the recent incident which happened of Digibyte shows that. Binance charging 3% tokens of the total supply and $300,000 is a lot of amount.

I also agree with the point which you have mentioned about exchanges rating the project and monitoring the altcoins before listing, this could be counted as fundamental analysis of the tokens before listing but the actual challenge would be convincing these exchanges to get them listed.

Cz did make some response towards to this issue
https://news.u.today/news/binance-cz-responds-to-complaints-of-dgb-coin-founder-about-its-dismissal-community-reacts
For the topic with these big exchanges listing then they do all have the power on what would be their criteria on listing a particular coin
but it wont be a new thing that this will always tied up with some ridiculous listing fees neither upfront or on backdoor.

[Strongkored]

No matter how good they make a benchmark there will definitely be a gap to break the framework they set to determine the points for crypto that are eligible to be entered.

Because it is in the form of a group, it is possible that they do not have a unanimous voice about the evaluation of the crypto.

But hopefully this can reduce crypto whose initial purpose is only to deceive and make the crypto world more developed in a good direction.

[prehisto]

This is for US customers only, the rest of the world has not those restrictions.
If you would have paid attention to Coinbase in the past, you would know that they are very slow and cautious about what they are listing, this alliance will be better for them and even help them decide faster than before.

[Javi_Anibarro]

This is for US customers only, the rest of the world has not those restrictions.
If you would have paid attention to Coinbase in the past, you would know that they are very slow and cautious about what they are listing, this alliance will be better for them and even help them decide faster than before.

Or practically, almost every international exchanges are like that whether it is they are asking a ton of money or legalization.
It has never been so easy for them to get listed on those big exchanges, 
unlike those crappy exchanges such as Gravinex, CB and his peers that can be done as long as you have a few Bitcoin.
personally speaking, this is not a big deal. Because it is created to target those big shots and creating a source of income for SEC itself.
Bittrex is backed by SEC, right?

[asriloni]

It should be noted if that will be applied for US-based exchange sites. We know that there's a lot of US-based exchange sites, but they are not so popular as they were in the past.

But it looks like the bad news is not only coming for the new alts, but it seems like there will be a lot of coins that already listed will not pass the Howey test as the standard to determine is that a security coin or not.

I believe there will be a massive wave of delisting comes from those exchange sites.

Someone with me about this?

[qwizzie]

Dash added to Coinbase
Dash added to Coinbase Pro
Dash listed among other coins for future integration on Binance US
Dash listed on Cointrade.cx (a rapidly growing Brazilian exchange)
Dash listed on Vaultoro (cryptocurrency and gold trading service)
Dash listed on Bibox (cryptocurrency exchange servicing primarily Asian markets)
Dash listed on Smart Valor (Swiss cryptocurrency exchange and security token platform)
Dash listed on NovaDAX (cryptocurrency exchange from Brazil)
Dash listed on TurtleNetwork DEX (Decentralized Exchange)
Dash listed on Bitasset (Hong Kong-based cryptocurrency exchange)
Dash listed on CriptoLAGO (state-licensed cryptocurrency exchange in Venezuela)

This is all from just the last 4 weeeks..

Maybe some altcoins have difficulty getting listed on big exchanges, but not Dash.

[wedosgibas]

It will provide developments for the advancement of cryptocurrency in market. Of course, new altcoin must be able to prove it, whether it is worthy to compete in market or not.

[NathanJB]

This should have been implemented a long time ago. The reason why the exchanges are full of shitcoins is that most of them do not have a high standard set for listing. Perhaps the hardest part is the very expensive fees charged by the top exchanges but apart from that everything could be haggled between the developers and the exchanges. But oftentimes coins with big names in the crypto world are listed automatically, others are invited. That is how the exchanges are also attracting solid traders and investors.

[yazher]

Actually this helps investors a lot, especially when choosing an Altcoins to invest their money with. they will no longer need to fear for a sudden dump of the fake altcoins, you know what I mean those pump and dump coins are used to make people invest them turn their investment into dust.

because after the dump the coins will no longer usable cause there will be no longer updated and development and the volumes will stay low all the time. with this new rule being implemented all of the new coins will be listed on the big exchange will be worth to invest our money with. If they have a real project and some real plan on their whitepapers.

[o48o]

Actually this helps investors a lot, especially when choosing an Altcoins to invest their money with. they will no longer need to fear for a sudden dump of the fake altcoins, you know what I mean those pump and dump coins are used to make people invest them turn their investment into dust.

because after the dump the coins will no longer usable cause there will be no longer updated and development and the volumes will stay low all the time. with this new rule being implemented all of the new coins will be listed on the big exchange will be worth to invest our money with. If they have a real project and some real plan on their whitepapers.

It doesn't sound like this is group is formed for that purpose. They are mainly giving a tool to predict if some tokens/coins are going to be securities or not, and to help with the regulatory system. Pump and dump coins are a whole different problem.

[lobat999]

See the following:

https://www.forbes.com/sites/billybambrough/2019/09/30/bitcoin-giants-coinbase-circle-kraken-bittrex-grayscale-and-others-band-together-to-rate-tokens/#68441bac7a01

Now, bitcoin trading and investment giants Anchorage, Bittrex, Circle, Coinbase, DRW Cumberland, Genesis, Grayscale, and Kraken have banded together to create the Crypto Rating Council in order to better decide which digital assets can and cannot be traded on their platforms.

The group have created what they call a "scalable, points-based rating system" to help define whether a cryptocurrency is or is not a security.

The system will use a set of several dozen questions, "derived directly from SEC guidance and case law."

"We also worked hard to focus our framework on objective, repeatable, fact-driven questions that can be answered consistently by technical experts across different assets and over time," Coinbase wrote in a blog post announcing the council.

The system will give bitcoin and similar digital tokens a score between one and five, with a score of one meaning the council’s independent analysis suggests the asset has few or no characteristics consistent with a traditional regulated security.

So in addition to paying them a lot to get listed, the developers of new alts need to jump through these new opaque hoops.

If I'm not mistaken, I think most of those alts will still be eligible to list on those large exchanges as long as it is not categorized as a security - which is covered by regulating bodies such as SEC and may have to comply with certain requirements as mandated by existing laws and regulations (in other words, it has too many red tape).

So far, I understand that article pertains to the creation of CRC - Crypto Rating Council to categorized any crypto as a security or not via a rating method. Interestingly, Bitcoin was given a rating of 1 - meaning to say it is less likely to be a security and so does other cryptos because if a crypto is indeed considered as a security,  exchanges will have to undergo regulatory compliance prior to a tokens listing and that I think exchanges are trying to avoid with.

Here is the link for a similar topic for reference: https://bitcointalk.org/index.php?topic=5188888.msg52605858#msg52605858

[Capt00]

This is good to do like they really study if the alts will get list or be help by their big exchanges because many really turn scam or hack only

So base in this then i think this can turn more trust about the new alts in many big exchanges like crypto market will really grow by this like many users,traders and investors will do risk or invest here in crypto

They probably did this because they have a reason also and for the seek to build a more trusted crypto environment.
What SEC emphasize is to be one of the reliable market design and those questionable crypto coins could be hung outside. It is also a part of every crypto developers to show that they can be trusted and they are worthy to be listed with known market exchanges.
Cause a numerous project today worth nothing and what SEC have to do is to keep traders and investors away from being scam or lose their money because of this shit projects.

[kidbounty]

See the following:

https://www.forbes.com/sites/billybambrough/2019/09/30/bitcoin-giants-coinbase-circle-kraken-bittrex-grayscale-and-others-band-together-to-rate-tokens/#68441bac7a01

Now, bitcoin trading and investment giants Anchorage, Bittrex, Circle, Coinbase, DRW Cumberland, Genesis, Grayscale, and Kraken have banded together to create the Crypto Rating Council in order to better decide which digital assets can and cannot be traded on their platforms.

The group have created what they call a "scalable, points-based rating system" to help define whether a cryptocurrency is or is not a security.

The system will use a set of several dozen questions, "derived directly from SEC guidance and case law."

"We also worked hard to focus our framework on objective, repeatable, fact-driven questions that can be answered consistently by technical experts across different assets and over time," Coinbase wrote in a blog post announcing the council.

The system will give bitcoin and similar digital tokens a score between one and five, with a score of one meaning the council’s independent analysis suggests the asset has few or no characteristics consistent with a traditional regulated security.

So in addition to paying them a lot to get listed, the developers of new alts need to jump through these new opaque hoops.

isn't this good, I hope they can give an appropriate assessment. they should have done this long before the crypto market collapsed. but no problem, for sure in the future we will not see altcoin shit in a big exchange.

[takngantuk]

this is good for the crypto market. I support the steps taken by the big exchange. in the future only altcoin that has a good ranking, which listings in large exchanges. This makes the market grow better, compared to the current altitude shit lots that are in large exchanges. and altcoin shit doesn't even have an impact on the crypto market.

[Barracuda]

this is good for the crypto market. I support the steps taken by the big exchange. in the future only altcoin that has a good ranking, which listings in large exchanges. This makes the market grow better, compared to the current altitude shit lots that are in large exchanges. and altcoin shit doesn't even have an impact on the crypto market.

I also agree with this.
As you said, this is indeed very good for the crypto market. The more difficult the project to enter the exchange because of the conditions or regulations applied, then each project will try to make the project run in order to be listed on a large exchange. Whatever the steps are, I fully agree.