Binance tightens token-listing process as regulators keep close watch
Binance Holdings Ltd. has tightened requirements for listing new digital tokens, stepping up efforts to bolster investor protections on its platform.
Crypto projects seeking to list tokens on Binance must now agree to a significantly longer so-called “cliff period” during which no coins can be sold, set aside more coins for market makers and make a security deposit, said people with knowledge of the matter, who asked not to be identified discussing confidential information. The changes started taking effect late last year, the people said.
Binance has communicated the changes verbally to participants in token listings and the requirements can vary somewhat between deals, the people said. So far the stricter rules don’t appear to have hurt the platform’s share of spot crypto trading, which has started to recover from an almost yearlong slide, and Binance has widened its lead in listings among major exchanges lately.
Still, executives involved in listings on Binance who spoke on condition of anonymity to avoid jeopardizing business relationships said the changes threaten to undermine their profitability and make listing new tokens prohibitively onerous. One of them has verbally complained to Binance executives about the
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