Coinbase Pro has announced that it will be adding Tezos to its institutional trading platform.
Tezos was officially launched in September 2018, is popular for introducing vote on-chain on proposed upgrades for its users. In May, this year, the blockchain began validating the first on-chain blockchain update by undertaking a series of backward-incompatible adjustments to the network.
At the time, Tezos Foundation official, Ryan Jesperson, who maintains the code and pays developers, had said, “We have been happy to see the network operating smoothly and efficiently over these last few months. The community has been actively engaged, with more than 400 validators (‘bakers’) scheduled for an upcoming cycle and the community has been developing an array of exciting technologies.”
In an official blogpost, Coinbase said, “Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.”
The post stated that the method to list assets would be by submitting a form for issuers to submit assets for listing at Coinbase, which the exchange will evaluate against their digital asset framework.
To be honest, Tezos has not an easy journey. In September 2017, Tezos faced the first of its many class action lawsuits. The class action suit was filed in California by attorney James Taylor-Copeland on behalf of investors. The suit had alleged that Tezos violated US Securities Law by offering securities, while at the same time “misleading” investors regarding the nature of the company.
At the time, Tim Draper had said, “There was nothing secretive about our purchase of Tezos. We invested for ownership in the company, which at the time was two bright young people and an idea. The sale might not have happened at all! We also participated in the Pre-sale. Most ICO founders earn tokens over time. All tokens we hope to receive that we didn’t buy in the Pre-sale (alongside with all the other investors who participated) will vest over time with the founders’ tokens. I have no intention of selling these tokens because I am a true believer in the Tezos mission.”
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