South Korean exchange Bithumb is set to have a committee do decide which coins will be listed on its platform.
Rules will include daily trading volume, market capitalization and project support among other factors.
Cryptocurrencies that fail or fall below the committee’s standards will have around two months to improve their status before being delisted.
Bitthumb commented on the reports “We will strengthen the check on technology development efforts and utility of cryptocurrency projects. We will take the lead in protecting investors by creating a transparent and safe trading environment.”
This initiative was put in place after some very “hyped” coins were listed by the exchange but then fell out of favour with the crypto community. Also, it is important to have stringent guidelines in place for new coins added to the marketplace.