On August 20, 2018, Adam White, Vice President and General Manager of Coinbase, outlined five core principles that will guide institutional businesses in the cryptocurrency space.
White explained the importance of these principles:
“Today we are sharing a set of core principles that will guide our institutional business. This set of beliefs will form the foundation in the development and operation of our products. Ultimately, we want these principles to lead us to our goal of operating the most trusted place to store and trade cryptocurrencies.”
These five principles are:
“Trade the market fairly and in an orderly manner.”
“Protect your clients with institutional-grade infrastructure and processes.”
“Ensure transparent market rules and governance.”
“Ensure equal access for all market participants.”
“Publish listing practices and market rules.”
The publication of these guiding principles coincides with the announcement of the creation of a working group of the Virtual Commodity Association (VCA), which includes representatives from Gemini. Bittrex, Bitstamp, and BitFlyer.
Given the fact that the US Securities and Exchange Commission (SEC) has raised concerns over the past few months about possible manipulation of the Bitcoin market, Coinbase is trying to reassure institutional investors and regulators that these principles are followed on their exchange and that the platform is a truly safe place to store assets. Of course, as soon as the SEC begins to regulate the work of Coinbase, the demand for the exchanger - which is large at the moment - will grow even more.
According to cryptoglobe.com
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