Binance tightens its new token-listing process

FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK: Binance Holdings Ltd has tightened requirements for listing new digital tokens, stepping up efforts to bolster investor protections on its platform.

Crypto projects seeking to list tokens on binance must now agree to a significantly longer so-called “cliff period” during which no coins can be sold, set aside more coins for market makers and make a security deposit, said sources.