Coindesk reports that Coinbase is rolling out a new policy for listing new cryptocurrencies, allowing almost anyone to submit a new currency and adding listings on a jurisdiction-by-jurisdiction basis. Anderson Kill's Stephen Palley approves:
"'It's actually an approach I've been advocating for a long time,' said Stephen Palley, a partner at the Washington, D.C.-based law firm Anderson Kill, who often pokes fun at crypto entrepreneurs' naivete about legal requirements.
'If you're Ford or you're Apple or you're Google and you want to sell your stuff worldwide, you actually do worldwide compliance,' he said, noting that such brands tend to customize their terms of service for specific countries."
While minimizing legal risk, Palley notes further, this good practice is expensive and time consuming.
Read more: Coinbase Gears Up for Biggest-Ever Expansion of Crypto Asset Listing