Binance News, Update: Exchange Wants All Listings Hidden Until Officially Announced or They Face Consequences

As one of the top cryptocurrency exchange platforms in the world, Binance has a lot of influence on what does and doesn’t happen in the market. Recently, the exchange decided to highlight a set of rules in which all listings should be hidden if they have not yet been made official by Binance. Any cryptocurrency that doesn’t follow this rule could end up banned from the exchange.

This development comes on the heels of the recent argument that Binance had with CyClean, Cryptovest reports. It was a rather public exchange, wherein Binance was accused of not following up on some agreement that they had promptly enough.

The new rule is actually a series of rules, which are listed on Medium. However, they all essentially meant the same thing or reinforced the point in one way or another: listings must not be disclosed without the express permission of Binance.

With regards to the consequences of disobeying the rules, the submitted request for a listing or partnership will supposedly be “put on hold” for an indefinite amount of time. Depending on the situation, the partnership might even be terminated by Binance. If the listing was leaked through no fault of the cryptocurrency, perhaps the consequences could be lighter.

Aside from protecting itself from future kerfuffle regarding listings, this move could also be a way for Binance to stop insider cryptocurrency trading, AMB Crypto notes. The idea is that any digital coin that announces a listing in the exchange is expected to increase in value. Even if it isn’t officially on Binance, this could still occur, which would put investors at risk of fraud.

By putting the power of making listings public squarely on the hands of Binance, crucial information is more carefully controlled. This is intended for the benefit of all parties involved, even the cryptocurrencies applying for a listing.