‘Core Principles’ Listed On Coinbase IIS
Coinbase, the crypto exchange, creates guidelines for institutions to ease their process of investment in digital currencies. The list of guidelines can be found on their website.
According to the Vice President of Coinbase, the guidelines are aimed at making the market framework more easy to understand, as well as ensure that the investors will have a fair and secure experience when they are initiating their activities around digital currencies.
In a letter signed by the company’s VP, the operations team is to supervise market operations and make sure that no one is committing any violations of the adopted policies.
The team will have the power to halt any suspicious transactions, and will be able to re-establish liquidy if it is deemed necessary. This will improve the investors’ experience and decrease their risk of scam and fraud.
On top of that, the company promises to have external audits and will use a very secure means of cold-storage to make sure they are offering the best ownership services.
The blog post then goes to a section where they announce the issuance of a market rulebook that will make the industry more transparent, and make it easier and efficient to allow people to have access to any information they need with their crypto investments.
These policies aim to add value to the market in terms of fairness, security, and transparency. Coinbase will be constantly providing the investors with additional market information including various fees, trading volumes, multiple trading options, and the market’s maximums and minimums. All this information will be documented and published on their website. In addition, they ensure that the team will be more than happy to help any of the participants personally if their case requires assistance.
Coinbase has been getting very negative comments regarding its asset listing policy. Some people have gone far to say they are rigging the market.
Transparency of assets
However, in the recent blog post, Coinbase clearly say that new assets will be announced transparently, and consistently, to make sure all have access to the same information.
They also mention that these rules are compliant with technological security, market demand, and governance practices. The team was very to the point as they said that anyone who does not adhere to the transparency rule is potentially putting the whole Coinbase community at risk of having a bad reputation, and will result in large investors thinking twice before putting their money on the market.