Binance.US Just Updated Crypto Listing Process – What’s New

It has been just revealed that Binance.US has just updated the crypto listing process. Check out what’s new below.

Binance’s US division has announced a new procedure for listing cryptocurrencies.

The exchange will now give traders advance notice when it is considering adding support for a new token, aiming to improve transparency in the listing process.

The first token to be evaluated under the new procedure is SUI, the native token of the recently launched layer-1 blockchain Sui Network, as noted by the online publication the daily Hodl.

Sui Network’s mainnet went live in May, and the project aims to compete with Aptos (APT) by using the same coding language, Move.

Sui Network operates on a delegated proof-of-stake (DPoS) consensus mechanism, which offers low latency and high throughput.

Mysten Labs, the developers of SUI, raised $300 million in funding last year at a valuation of $2 billion.

Binance.US has announced that it is currently reviewing SUI and has stated that the token may soon be listed on its platform. As of writing, SUI is trading at $0.415 and is ranked 95th by market cap.

In May, Binance’s global exchange added support for SUI on its Launchpool platform, while Coinbase listed SUI later that month under its “Experimental Label” – a classification for riskier and less liquid tokens.

According to a recent report from Bloomberg, a US federal magistrate judge has denied the US Securities and Exchange Commission (SEC) the authority to examine the technical infrastructure of Binance’s American affiliate.

This is a setback for the regulator, as they had requested permission from Magistrate Judge Zia M. Faruqui on Monday to search through Binance.US’s software.

However, Faruqui rejected the idea, stating that he was not inclined to permit the inspection “at this time.” Bloomberg reports that the judge instructed the regulator to come back with more specific requests.