In a statement shared with Gadgets360, Giottus claims that the company has analyzed each new token added to the list. According to the exchange, the assets have been thoroughly examined for quality, reliability, fundamentals, and market performance history.
The company said in its statement, “The listing of the new tokens is driven by significant demand from our customers, especially given the ongoing bull market. The tokens selected for listing have undergone a rigorous screening process, evaluating aspects such as asset quality, reliability, asset fundamentals and market performance.”
CoinMarketCap’s Accordingthere are currently over 2.4 million cryptocurrencies in crypto market circulation. Giottus alone claims to now have over 300 cryptocurrencies listed on its platform.
Seeing the trend of new tokens coming on crypto exchanges, the India Web3 Association (BWA) recently formulated self-regulatory guidelines for exchanges before listing new tokens on their platforms. These suggest that all crypto exchanges apply minimum standards for reviewing tokens that are in the process of being listed for public trading. Exchanges have also been directed to create their own filtering system for token listings.
As of now, the Indian government has not issued its own rule book on token listings, but exchanges have been directed to complete KYC formalities of all clients and report any suspicious activity identified internally.
Giottus claims to have registered with India’s Financial Intelligence Unit (FIU) – which was recently created by the central government to ensure that no company is illegally luring Indians into the volatile and financially risky crypto space.