TSX up after index logs fresh record high close
Investing.com -- Coinbase (NASDAQ:COIN) CEO, Brian Armstrong, suggested a significant change to the company's token listing process over the weekend. He stated that the current method of evaluating each token individually is no longer practical due to the rapid creation of approximately one million tokens per week.
Armstrong proposed that the system should shift from an allow list to a block list. He further suggested the use of customer reviews and automated scans of on-chain data to help customers navigate through the increasing number of tokens. In addition, he indicated that Coinbase will continue to integrate native decentralized exchange (DEX) support more deeply, making it easier for customers to trade without needing to know whether the trade is happening on a DEX or a centralized exchange (CEX).
Billionaire Mark Cuban responded to Armstrong's proposal, arguing that it would be a huge mistake. He pointed out that the high rate of token creation is due to the lack of registration. Cuban suggested the implementation of a simple registration form, specifically tailored for meme coins. He believes that there are sufficient Know Your Customer (KYC) tools that can expedite approval within the same day, provided a fee is charged to cover costs.
Cuban warned that without such measures, low-quality tokens could overwhelm the limited quality ones, which could potentially harm the industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.