GDAX released a criteria system for new coins listing

GDAX Digital Asset Framework will help GDAX team to evaluate a cryptocurrency before adding it to the listing
03 November 2017   4599

The GDAX Cryptocurrency Exchange (part of Coinbase) has developed a set of principles according to which new coins will be selected by the site management for further listing.

In a document called the GDAX Digital Asset Framework, the exchange management listed the criteria that crypto assets must meet before adding to he exchange.

In particular, the administration of the exchange will assess whether a particular asset of the mission corresponds to the values ​​of GDAX, and whether it falls within the scope of the requirements of the federal securities legislation. Also, the administration will take into account:

  • the developer's reputation
  • the ethical standards of the project team,
  • examples of real use of the crypto currency,
  • the openness of its source code,
  • various security aspects,
  • the volume of trades and
  • capitalization,
  • user support,
  • the size of commissions for transactions,
  • and more.

Customers often ask us how we decide which assets to support. By sharing this framework we hope to improve transparency and highlight the factors we evaluate when considering which new assets to support on GDAX.
This framework is not intended to be a definitive methodology, investment advice, or a commitment to support any specific asset. As the technology, use cases, and regulatory environment evolve, so too will this framework. We are committed to supporting more assets, but our priority is always to protect customer funds and comply with regulatory requirements.
 

Adam White
Head, GDAX

 White also added that next year GDAX will add support for several cryptocurrencies.

It should be noted that to date, GDAX has maintained an extremely conservative position in the issue of adding new crypto assets to the platform. So, at the moment the exchange supports only three "top" crypto-currencies: Bitcoin, Ethereum and Litecoin. GDAX is 7th largest cryptocurrency exchange in the world.

US OCC to Hire Coinbase's Chief Legal Officer

Brian Brooks will be the Office of the Comptroller of the Currency COO and  Senior Deputy Comptroller since 1st of April
17 March 2020   426

The U.S. Office of the Comptroller of the Currency (OCC) has recruited Coinbase's cryptocurrency exchange legal director, Brian Brooks, as its chief operating officer and first deputy head of department.

Brooks will take office on April 1st. He has been in charge of Coinbase's legal affairs since September 2018. At Brooks' new location, they announced that he would leave Coinbase and replace current COO Morris Morgan. Brooks is also a member of the board of directors of the mortgage company Fannie Mae, but will leave this post with a new appointment.

He is a visionary thinker with a passion for service and a deep understanding of how the financial services industry supports our nation's prosperity. We are fortunate to attract such an experienced and talented individual to join our federal agency.

 

Joseph Otting

Current Comptroller of the Currency

The Office of the Comptroller of the Currency is part of the US Department of the Treasury and supervises national banks. The agency has been operating since 1863 and is taking measures against banks, the practices of which it considers to be excessively risky.