The incorporation of assets in three ways is made official and regulated: Alpha, Futures and Spot.
Applications must be managed by founders only; The use of third parties nullifies the process.
Binance, the bitcoin (BTC) and cryptocurrency exchange with the highest global trading volume, made official this Wednesday, December 17, its new structural framework for the listing of digital assets.
The platform seeks to eliminate fraudulent practices through the publication of a “black list” and the threat of legal actions against unauthorized agents.
The new scheme formalizes the incorporation of projects in three clear paths: Alpha, Futures and the Spot market (spot). According to the official statement, this phased process allows the viability, real demand and regulatory compliance of alternative cryptocurrencies to be assessed before granting them full access to main market liquidity.
However, the critical point of the announcement lies in security and “zero tolerance” policy towards intermediaries. Binance warned that any project that uses third parties to manage its application will be immediately disqualified and banned from future opportunities.
In the document, the company explicitly identified entities such as BitABC and Central Research on its “blacklist”, as well as specific individuals: May/Dannie, Andrew Lee, Suki Yang, Fiona Lee and Kenny Z.
The warning escalates to the judicial field, since the exchange confirmed that will take legal action against these actors for alleged fraudulent activities.
To combat internal and external corruption, the exchange announced a reward of up to 5 million dollars for those who provide truthful evidence about alleged agents or employees requesting improper payments for listings.
As reported by CriptoNoticias, on December 8, Binance warned about an employee who published privileged information about the company to benefit financially. In line with the measures that are now becoming official, the now former employee was sanctioned and will be brought to justice.