It seems that Coinbase is preparing to add a lot more crypto-currencies – TechCrunch

Coinbase aspires to become the New York Crypto Exchange, and it is taking a small, but not insignificant, step to offer much more cryptocurrency after relaunching the process of listing new digital assets.

The exchange currently only supports five crypto-currencies – Ethereum, Bitcoin, Bitcoin Cash, Ethereum Classic and Litecoin – and the process of adding each has been progressive. The company would announce plans and then announce later when registering the asset. The idea being to reduce the potential of sending the value of a token that skyrockets. (Since the support of Coinbase potentially adds a lot more trading volume.)

This is clearly not a sustainable process if Coinbase adds "hundreds" of chips, as CEO Brian Armstrong has said to an audience of TechCrunch Disrupt.

Regulatory concern is very important when evaluating the support of new cryptocurrencies. Coinbase now speeds up the process by limiting the trading of certain chips to specific locations, if any.

"Today, we are announcing a new process that will allow us to quickly identify most digital assets that comply with local law, by satisfying the registration requirements of each jurisdiction. In practice, this means that some new assets listed on our platform will only be available to customers in certain jurisdictions for a given period of time, "the company said in a blog post.

This will mean the end of the double announcement – "the X token is coming soon" and "the X token is now supported" – and instead a single revelation. This indicates that a large number of new assets may be coming in – for an idea of ​​those, Coinbase recently stated that he was looking at a number of crypto-currencies.

It is interesting to note that the company also indicated that it could introduce registration fees in the future – which is common in many other exchanges – to cover the costs of adding certain projects.

"Initially, there will be no fees. Depending on the volume of submissions, we reserve the right to charge application fees in the future to cover the legal and operational costs associated with the valuation and registration of new assets. " he explains.

The company has opened a listing proposal link here. If similar features from other trades are likely to occur, Coinbase will be flooded with naïve token holders who think they have a chance to appear on Coinbase, which will take them to the moon. Good luck maintaining this list, guys.

Note: The author has a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.