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.
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.