Bittrex Tightened New Tokens Listing Rules

Now token can be delisted due to low community interest or changes in legislation
01 February 2018   1146

The American exchange Bittrex has updated the requirements for new tokens listing. In particular, now developers need to provide technical information about the token itself, as well as the data of at least one team member. The new criteria are reported by CoinDesk.

In addition, Bittrex will check whether it is legal to host each specific token for trade in the United States. After this check, the specialized board will consider the features of the block of the presented crypto currency, its scope, its importance for the market and the reputation of the team.

We have to have confidence that as things are breaking that these guys are actually able to fix it and sometimes fix this stuff on the fly. So, you know having a great engineering team and great leadership team matters significantly in the listing process.

Bill Shihara
CEO, Bittrex

Among the reasons why Bittrex can delist token are:

  • changes in legislation,
  • low community interest,
  • break-in or breakdown of blockchain and crypto-currency-related technologies,
  • the team's refusal to support their own token,
  • low trading volumes,
  • suspicious activity in the market
  • user complaints.

Tokens that fall under the delisting criteria will not be removed immediately, but within two weeks. After the direct removal of the token, traders will have another two weeks to withdraw their assets.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   365

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.