The American division of the FTX cryptocurrency exchange – FTX.US – has limited the listing of crypto assets due to regulatory uncertainty.
FTX.US CEO Brett Harrison said on The Decrypt Daily podcast that the company is currently not sure what limits will be drawn by regulators in terms of trading in certain crypto assets, whether they will be allowed or whether exchanges will be required to list only certain cryptocurrencies that they do not consider securities. At the moment, FTX.US offers its clients only 27 crypto assets, which is much less than the 322 offered by the parent company.
According to Harrison, the company now focuses on quality, not quantity. The exchange intends to compile a list of high-quality projects with clear roadmaps and vision. The CEO of the exchange emphasized that FTX.US will refrain from emulating the more liberal approach of the Coinbase exchange, which has expanded its offering to 169 assets over the past two years.
Right now, Coinbase’s strategy is to offer its customers as many cryptoassets as possible where it is legal. The exchange’s CEO, Brian Armstrong, said the company needed to speed up the process of checking assets and adding them to the site, because soon “we will find ourselves in a world where there will be so many of them that it will be impossible to keep up with them.”
Harrison is confident that in the next year or two, the US Securities and Exchange Commission (SEC) will team up with the Commodity Futures Trading Commission (CFTC) to create a joint supervisory body that will review applications and regulate cryptocurrency projects faster and more efficiently. Until then, FTX.US will stick to a cautious strategy.
Earlier, the American exchange IEX said that it is waiting for investments from FTX in order to create a joint trading platform in the United States.
