Coinbase's artful interpretation of vague rules

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Coinbase's artful interpretation of vague rules
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Coinbase is reportedly facing a probe by the SEC about whether it offers securities for trade. Here's a look at the crypto exchange's entire listing process.

that it aimed to list tokens representing at least 90% of the aggregate market capitalization of all digital assets in circulation."Looking at the data, if you were to calculate how many tokens make up 90% of the industry's total market cap, it would be around 38 tokens," Dustin Teander, senior research analyst at Messari, tells Axios.There are tens and thousands of coins trading, but very few actually have a meaningful market share in market capitalization terms.

Its modus operandi — to list a lot of tokens — has been directly at odds with what SEC Chairman Gary Gensler has“No, we did not change our internal review process,” Coinbase spokesperson Natasha LaBranche said in an emailed statement, referring Axios to the company's blog.—Coinbase launches "Asset Hub," sending out an open invitation to coin issuers.

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