Token admission criteria refer to the specific requirements or standards that a digital asset must satisfy to be listed, traded, or integrated into a particular cryptocurrency exchange, decentralized finance protocol, or blockchain ecosystem. These criteria often assess factors such as project legitimacy, technical security, market liquidity, community support, and regulatory compliance. They serve as gatekeeping mechanisms to maintain platform quality and protect users. Meeting these standards is crucial for asset visibility.
Context
The discussion around token admission criteria centers on transparency, fairness, and the potential for subjective decision-making by centralized platforms. A key debate involves balancing strict vetting processes with fostering innovation and providing access to emerging projects. Critical future developments include the establishment of more objective, decentralized listing mechanisms and industry-wide best practices for asset evaluation. News frequently reports on token listings or delistings, which significantly impact asset value and market access.
Licensed Virtual Asset Trading Platforms must now integrate global liquidity pools and update product governance following the removal of the 12-month token rule.
The SFC's new framework permits licensed platforms to leverage global liquidity pools and broadens product access, signaling a strategic pivot to market expansion.
The SFC's new circulars relax token admission for professional investors and permit shared global liquidity, fundamentally altering the VATP operating model.
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