At ACX, we look for coins that have high community demand, innovations to digital currency technology, or a contribution to science or humanity. Given the demand for currency launches, we limit ourselves to only a handful a month.
Note that we cannot list currencies where its primary purpose is to support illegal gambling, illegal drug sales, or any other activity that is illegal in our jurisdiction. We also cannot list currencies that would be construed as a security such as digital currencies that promise/market profits or represent shares of a company. At our discretion, we may require an additional compliance fee for listing. This can happen in extraordinary cases where your coin’s use case is extremely complex and requires significant research by our staff to determine suitability.
Frequently Asked Questions:
I applied does that mean I automatically list?
No. We may find we have some issue with the coin and decide not to list. This means you can lose your application fee of 5 BTC. For example if we discover your coin is a security during the application we will not list and you will lose your 5 BTC application.
Also we do not comment on coins as this can cause manipulation in the market place.
What kind of research do you do?
The research can consist of any combination of the following (and possibly more):
Background checks on the principle owners of a business launching a blockchain
Verifying that a company is registered; i.e. if you say you are registered in Australia, we may check that you are
Understanding the business process; i.e. if you say you are handling gold and storing it securely, we’re going to walk through every aspect of that process
Code reviews of technology that we’re not readily familiar with; for instance, if you write a whole blockchain client in Erlang, we’ll have to hire experts to help code review it with us
Applying the ASIC guidelines to your token to understand whether or not it is a security: ASIC
The compliance review fee is non-refundable and does not guarantee inclusion in ACX.
What types of businesses typically require a compliance review?
Gold. It turns out that most commodities laws exist because people get scammed by gold a lot.
Gambling. This should be obvious. There are legal ways to run an online casino. Just because its illegal in the United States does not mean you can’t have a gambling business. But we have to review it top to bottom.
Securities. Anything on our first pass that looks like it fails the ASIC test will need a compliance review before we add it to ACX
Does this mean those blockchains/businesses are blessed by ACX?
No. This means that we evaluated the legal risk of listing those tokens. You still need to do your own research on whether you believe holding those tokens is the right decision for you. Do not consider a compliance review from ACX as either legal or investment advice.
As a coin developer, does that mean we get legal advice?
No. The information that is generated from this work is purely for ACX’s internal use. We evaluate our risk. You need to hire your own lawyers and consultants to understand your personal risk. Having said that, we will typically provide advice to you on how to get your token to a level of risk we are comfortable with. We can also refer you to talented lawyers, commodities/securities experts, and blockchain developers.
How long will the coin stay on the platform?
We will review the coins reputation, volume and development regularly. If the coin doesn’t develop or help the cryptocurrency community or its volume drops, it can be removed from the platform with out notice.
Is there anything I can do to get listed faster?
Yes. If you can supply a legal document specifying your coin model is not a security. That can speed up the listing. Also known as a lawyers memo. We are much more likely to list. With out this document we require much research.