OKX Hit by Crypto Theft Due to SMS Notification Security Fail

Binance Revamps Token Listing Rules Amid Regulatory Heat

Binance Revamps Token Listing Rules Amid Regulatory Heat

Going forward, Binance Exchange will abide by stricter token listing regulations.
According to reports, this cautious stance is a result of the industry’s increasing crackdown. Binance wants to improve all of its compliance procedures.

By filtering listed tokens, well-known cryptocurrency exchange Binance Holdings Ltd. is attempting to protect investors on its platform.

Related articles

Binance Token Listing Rules Have Changed

Crypto investors have previously been exposed to dubious digital assets that were a part of frauds such as rug pulls. Investors who participate in these schemes ultimately suffer enormous losses totaling millions of dollars. Regulators eventually become aware of such events since they already believe that cryptocurrency carries a great deal of risk.

According to a Bloomberg article, Binance has decided to tighten its conditions for listing digital tokens on its platform in order to counteract the emergence of such fraudulent crypto ventures.

The rewrite you provided is already in active voice! It clearly states that Binance requires all cryptocurrency projects to agree to a “cliff period” where a portion of their coins are locked in a “smart contract” for a set time.

Binance Locks Up Coins During Token Listing: New Cliff Period Restricts Sales

Those with knowledge of the situation, who wished to remain anonymous, said that this cryptocurrency project will need to pay a security deposit in addition to setting aside more funds for market marks.

Binance Must Strive for Protection of Investors

According to the Bloomberg article, Binance has been putting the adjustment into practice for a while now.

Binance has informed those wishing to list their tokens verbally about the new policy.

It is important to remember that conditions and specifications can change from agreement to deal. The leading exchange is implementing these adjustments as it is still recovering from a turbulent 2023 that resulted in a significant fine from the US SEC.

The Securities Commission’s lawsuit against Binance included allegations of federal securities law violations. To make matters worse, the exchange and the Department of Justice (DoJ) settled for $4.3 billion at the same time that Changpeng “CZ” Zhao, the company’s co-founder and former CEO, resigned.

Recent historical precedents justify the focus on token listing regulation and investor protection.

In a February interview, Binance’s head of Middle East, Africa, Southern Asia, and Turkey, Bader Al Kalooti, had said that token listings were a two-edged sword. “Clearly, having more tokens makes it easier to increase user base size, but we no longer simply put user security and safety behind growth.”

Given that other exchanges have already come under fire for their careless approaches to token listing, it’s possible that these other cryptocurrency trading platforms will take a cue from Binance and impose comparable rules in an effort to appease market authorities.

BNB price from Binance
BNB price from Binance

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

Sign Up for Our Newsletter!

Hidden

Next Steps: Sync an Email Add-On

To get the most out of your form, we suggest that you sync this form with an email add-on. To learn more about your email add-on options, visit the following page (https://www.gravityforms.com/the-8-best-email-plugins-for-wordpress-in-2020/). Important: Delete this tip before you publish the form.
(Required)

Related Posts

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice

mBit

Inmerion

Marsbet

Press Releases

Related Posts