The CEO of Coinbase proposes a renewal of the tokens listing process

Brian Armstrong, who directs the largest cryptography exchange in the United States, Coinbase, has suggested a rethinking of the company’s tokens listing process to respond to the incredibly high amount of digital currencies that are created every week.

According to the Crypto executive, approximately one million tokens are launched weekly, which makes it impossible to evaluate each one individually.

The listing process

In general, Coinbase puts new assets through a process of several stages. First, an encryption project requests a review, which provides detailed information about the Token, including its purpose, technology and the team behind it.

Next, the review is carried out, with the Coinbase team executing an initial evaluation to ensure that the Token adhere to its listing criteria. Then they carry out a deeper analysis, examining the case of use of the asset, the demand of the market and the regulatory compliance, after which the projects that are listed and moved to the negotiation mode when they meet the liquidity conditions.

However, given the large number of chips that are being launched, Armstrong feels that not everyone can be carried through that process. He also noted that regulators cannot grant up to one million weekly approvals.

To solve the problem, the CEO proposed Move the tokens of a list of allowing a block list using customer reviews and automatically scan the data on the chain. He also emphasized that Coinbase will continue integrating native support for decentralized exchanges (DEX), suggesting that platform users do not need to know if there is an exchange in a centralized or decentralized exchange.

Justin Sun refutation

Armstrong’s proposal found skepticism from certain sectors, with the founder of Tron Justin Sun interrogation Current Coinbase List. He affirmed that Tron’s native token had been under review for seven years without having been included in the platform despite being among the ten largest cryptocurrencies for market capitalization, arriving pipe.

“Coinbase will ultimately list TRX after his debut in Nyse and Nasdaq, or will he never list it at all?” Sun asked.

He concluded that the fact of not listing the Token was due to the lack of “the most basic justice and the judgment of the industry.”

Coinbase had also faced the controversy in the past, especially when Bitcoin wrapped (WBTC) eliminated. While the exchange said that his decision was based on a rigorous internal review and concerns about Sun’s participation in the project, critics accused him of acting to favor his own BTC tokenized product, CBBTC.

In response, Bit Global, a strategic partner of the WBTC custodian, Bitgo, sued Coinbase, claiming that the elimination was anti -impetitive and had harmed its operations. Coinbase then requested the dismissal of the demand, claiming that there were no rules that forced the host assets that are considered risky. The Court will consider the motion of the exchange on April 3.