Token Listing, Suspension and Delisting Policy
This document outlines the rules and criteria governing the admission, suspension, and removal of virtual assets from the platform provided by the Company, in alignment with applicable regulatory requirements across jurisdictions where the Company operates.
Token Listing Policy
The Company conducts a thorough evaluation of virtual assets before listing them on its platform. Virtual assets must meet the following criteria:
A. Regulatory compliance
- AML/CFT Compliance: Both the virtual asset and its issuer must comply with AML and CFT policies aligned with applicable laws and regulations.
- Legal Assessment: The virtual asset must adhere to all applicable laws and not be linked to unlawful activities or prohibited categories. As and when necessary, the token issuer must provide an external legal opinion to seek advice on the regulatory status of the virtual asset.
- Initial Coin Offering: The token issuer must produce an ICO documentation that is clear and concise, transparent in its use case, tokenomics and technical specifications.
B. Technical standards
- Blockchain Protocol: The supporting blockchain must ensure strong security and compatibility with the Company’s systems.
- Smart Contract Review: Smart contracts, if applicable, require independent security audits to verify functionality and resilience.
- Governance and Design: Evaluation covers the asset's creation, governance, intended use, issuance documents, consensus mechanisms, and code security.
C. Evaluation process
- Liquidity: The virtual asset must demonstrate sufficient market liquidity.
- Business Risk: Assessment of the issuer’s business model, governance, and operational soundness.
- Risk and Compliance: Examination of potential legal, financial, or regulatory risks.
- Technology and Cybersecurity: Review of vulnerabilities in the asset’s blockchain or infrastructure.
Token Suspension Policy
The Company reserves the right to suspend a token under the following circumstances:
- Regulatory Changes: New directives or enforcement actions from the applicable authorities affecting the virtual asset’s legality or permissibility.
- Security Breaches: Detection of vulnerabilities or threats to the virtual asset’s blockchain infrastructure that jeopardize user funds or platform integrity.
- Market Manipulation: Evidence of fraudulent activities, wash trading, or any form of market abuse involving the virtual asset.
- Issuer Issues: Insolvency, legal proceedings, or adverse developments concerning the virtual asset issuer.
- Non-Compliance: Failure of the virtual asset or issuer to comply with the Company’s AML/CFT policies or other compliance requirements.
In the event of suspension, the Company will notify affected users promptly and provide a clear timeline and procedures for resumption or further actions.
Token Delisting Policy
A virtual asset may be delisted from the platform under the following conditions:
- Ongoing Non-Compliance: The virtual asset fails to meet compliance requirements despite prior suspension and remediation attempts.
- Regulatory Enforcement: The virtual asset is explicitly deemed non-compliant or illegal by relevant authorities.
- Prolonged Technical Issues: Irresolvable vulnerabilities or performance issues in the virtual asset’s blockchain infrastructure.
- Insufficient market interest, liquidity, or trading volume renders the virtual asset impractical to support.
Virtual assets may also be delisted if the asset or its project no longer meets the initial listing requirements.
The Company’s Token Listing Committee oversees token admission, suspension, ongoing monitoring and removal decisions. Periodic reviews of the criteria and rules will be conducted to ensure alignment with evolving regulatory and market developments.
Disclaimer
This document does not constitute legal advice and is subject to changes based on future regulations, industry standards, and internal policy reviews.