If you are thinking about creating a token, or a simple blockchain project, you must think twice. Or you may regret ever starting it in the first place. Legal advice is certainly recommended to begin with. And, if you ever dream of listing a token in a major US exchange, there are some guidelines you want to be aware of. It is important to create a token that is aiming to comply with most USA regulations, to start; despite those sets of rules not being yet defined, nor very clear or somewhat unfit for every circumstance there are some defined rules that can help a project qualify for USA exchange listing.
Out of curiosity, I attended a recent meet-up in San Diego organized by Edge Wallet, which featured a lecture from Hailey Lennon, one of the most renowned crypto legal advisors in the USA. A sought-after lawyer by large crypto exchanges such as Coinbase. In about an hour she explains several intricate details about blockchain and crypto regulation in general and in 5 minutes she focused on the subject matter v that I was very interested in listening to the listing Guidelines for Coinbase (referral link) token listings, which she covered in detail in this short 5-minute video.
Hailey goes on to explain that the USA is one of the most regulated countries when it comes to money and assets in general and because of that, some exchanges such as Coinbase have created a set of guidelines that help them classify a token into a listing or non-listing category. During her time working as a lawyer on Coinbase, this information was kept private and used solely by Coinbase personal to establish the qualifications for listing. As mentioned in her lecture, Coinbase has since then publicized this standard, and made this valid set of guidelines available for the public to see.
As Hailey mentions, these guidelines have been established by Coinbase and each exchange has its own set of requirements and specifics needed to creating their reasoning behind token listing acceptance. Most are based on legal advice provided by their legal team that is based on established current regulation in different levels of strictness. And most are constantly on the lookout for changes in regulation that may require them to set new rules in the future as well.
Please note that this article is just my learning perspective of a great event and lecture that I attended, and it is not legal or financial advice. My opinions are my own, and at the beginning of her speech, Hailey also verbalized a disclaimer that stated that information in this lecture is for educational purposes only and not legal advice. I always recommend my viewers to do their research, read in-depth from a variety of authors, and seek professional advice if they ever have the need. My blog is my journey, and because I make mistakes, I strive to learn more and more. I felt Lucky I got a chance to learn from specialists such as Hailey Lennon in my own hometown. What a treat! Thank you Edge Wallet for this free and very cozy opportunity to learn.