At this time, Coinbase made a statement that the trading platform will offer a lot more to cryptocurrency after the mechanism for adding new digital assets will be updated.
Currently the exchange supports only five cryptocurrency – Ethereum, Bitcoin, Bitcoin, Cash, Litecoin, and Ethereum Classic – each of which was added gradually. The idea of changing the process of adding is to reduce the potential growth of price of tokens after the listing, because Coinbase potentially increases the price of the coin.
This is clearly not the right thing, if Coinbase will add “hundreds” of tokens, said CEO Brian Armstrong audience at TechCrunch Disrupt.
The extent of the regulatory challenges are great in the evaluation support a new cryptocurrency, so now Coinbase speeds up the process by restricting trade in some tokens in certain places where it is needed.
“Today we are declaring an early intention to transfer the majority of digital assets that comply with local legislation by meeting the requests listing in order of jurisdiction. In practice, this means that some of the new assets that are listed on our platform, may be available only to customers in certain jurisdictions and within a certain period of time,” says the company in a blog post.
It is worth noting that the company also may introduce a fee for the listing – it will be necessary in the future to cover the costs associated with the addition of some projects.
“Initially, the fee for filing is charged. Depending on the volume of submissions we reserve the right to impose a fee for filing an application in the future to cover legal and operating expenses associated with the assessment and transfer of new assets,” explained Armstrong.