Coinbase brings new crypto tokens to New York
Coinbase has activated four new tokens especially for the New York market. The crypto exchange thus reacts to the strict Bitlicense guidelines of the state.
SQD, TIA, TAO and XYO are now officially available. For traders in New York, this is an important step towards more variety of crypto.
Coinbase and the influence on the Bitcoin course
Coinbase, one of the largest crypto exchanges in the world, can influence the courses of assets through their token listings, but history is not always so easy.
For example, the stock exchange Subsquid (SQD) for a general audience Listed in mid -June what it got on an all -time high, but it had to be SQD separately Lists for an EU audience. Today SQD is one of four coin base assets that will go live in New York:
Token listings and their effects
Since Coinbase SQD has already listed on two occasions, this New York update hardly caused a wave. The request went live on the platform five months ago, and Celestia was Listed in 2023. Xyo War Sogar earlier your turn.
It is important to note that Coinbase must list the tokens in this state separately due to the BitheiceseNew York request, a regulatory remnant made of more crypto-hostile times.
In 2015, the state introduced new crypto restrictions in its financial services law. As a result, crypto companies such as Coinbase were forced to carry out thorough risk analyzes before they could listen. In addition, companies have to pay a fee of $ 5,000 to obtain a Bitlicense.
This controversial program frustrated some local crypto initiatives in NYC and Mayor Eric Adams has unsuccessfully tried to abolish it. Nevertheless, it still exists, so that Coinbase has to deal with it to list these tokens.
Some of Coinbases other New York specific listings also follow current developments. For example, the request experienced an increase in fresh institutional investments in the last month, and Celestia rose after it unveiled a 100 million USD treasury.
XYO had no similar breakthroughs recently, and his course sank Most of the past three months.
In the meantime, the stock exchange is experiencing a rally on Wall Street. The coin base share rose by over 38 percent last month, even after ARK Invest sold his shares.
Overall, crypto exchange is expanding in both the USA and worldwide. Obviously, the list of the stock exchange has increased in recent months.
Disclaimer
In accordance with the guidelines of the Trust Project, BeinCrypto commits an impartial, transparent reporting. This article aims to provide precise and current information. However, readers are recommended to check the facts independently and consult a specialist before making decisions based on this content.
