September 27, 2022

Coinbase Adds ‘Experimental’ Labels to Some Cryptocurrencies

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The Coinbase exchange introduced a system of “experimental” tags. The platform highlighted assets with low trading volumes and newly listed cryptocurrencies. This was told by the product manager of the company Ishan Wahi.

Vahi said Coinbase is rapidly expanding the list of assets traded on the platform, which brings with it risks associated with volatility and order cancellations.

The company emphasized that users should “exercise caution” when interacting with assets marked as “experimental”. The label will not affect the ability to make transactions with these cryptocurrencies.

Coinbase also submitted a “Digital Asset Policy Proposal.”

The company said the purpose of the document is to enable it to participate in discussions about how the US financial regulatory system should adapt to two “major events”:

decentralized evolution of the Internet;
the emergence of a class of digital assets that provide “unique economic solutions”.
Coinbase experts proposed regulating cryptocurrencies within a separate system, assigning supervisory powers to a specific federal agency, expanding and protecting the rights of digital asset holders, and promoting interoperability and fair competition.

Recall that on March 7, Coinbase announced the blocking of more than 25,000 addresses associated with Russian individuals and legal entities.

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