GDAX announces launch of Coinbase Pro

Yesterday GDAX announced on their blog the launch of a new pro-oriented trading platform Coinbase Pro, which will replace GDAX platform after June 29
24 May 2018   1997

Yesterday GDAX announced in their official blog the launch of their new platform for individual investors – Coinbase Pro.

This new product is aimed at individual professional traders, as opposed to the initial “pro platform” GDAX, which is devised mainly as a tool for institutions who want to enter crypto space. GDAX allowed the company to gather consumer info and develop a completely new platform dedicated and specifically tailored to the needs of individual crypto market players. Any existing GDAX customer can visit the page of the new platform and try it out on their own since yesterday.

The platform was completely redesigned form the ground up to make trading experience more seamless and intuitive. All transactions and balances from GDAX automatically are transferred to Coinbase Pro, and deposit and withdrawal processes are simplified for the customers' convenience. New features also include improved charts to give easy access to historical data, new consolidated portfolio view called “My Wallets” to allow customers to easily view their account balances and orders.

Like GDAX, Coinbase Pro users still have full and direct market access to the Coinbase Markets – a single pool of liquidity or all Coinbase products. Upon login customers will see all of their existing GDAX balances and trade history and will still enjoy the same level of service, the same trading fees and still have access to thee same APIs and security features, that the current platform provides.

Both old and new platforms will operate side by side until June 29, 2018. After that date, all customers will be transferred to the Coinbase Pro.

Coinbase to Help Determine Whether Coin is Security

The system, which is developed together with Kraken, Circle and Bittrex, will help exchanges to determinate whether a coin is a security under US law
01 October 2019   133

Bitcoin exchange operators, including Coinbase, Kraken, Circle and Bittrex, have developed a system to evaluate which cryptocurrencies are classified as securities under US law.

According to the Wall Street Journal, the system will help exchanges decide which digital assets to list and which ones to not deal with so as not to violate the requirements of securities laws.

A specially created Cryptocurrency Rating Council evaluates digital assets based on the rules and recommendations of the US Securities and Exchange Commission (SEC). Cryptocurrency project developers do not participate in asset valuation, but may provide additional information.

The rating structure assigns from 1 to 5 points to the asset in question. The highest value indicates that cryptocurrency has the maximum number of signs of a security.

The Council published the results of an assessment of 20 cryptocurrencies. Bitcoin, Litecoin (LTC), Monero (XMR) and DAI each received 1 point, which indicates the minimum probability of classifying them as securities. The same applies to Ethereum (ETH) - only 2 points.

Ripple's XRP was at risk with 4 points. Closer to this value, the ratings of tokens EOS, FOAM, Stellar (XLM), Tezos (XTZ), Augur (REP), Hedera Hashgraph (HBAR) and LOOM from Loom Network - 3.75 points.

The system itself selects digital assets for valuation, but may consider the application.

In addition to exchange operators, the founders of the Cryptocurrency Rating Council were custodial and trading companies of the industry, including Anchorage, a division of Cumberland holding DRW, Genesis Global Trading and Grayscale Investments.