Binance Tightens Market Making Rules In Wake of Crash Criticism

Binance, the world’s largest crypto exchange, is tightening rules for token issuers and providers of liquidity on the platform following criticismof digital-asset market practices during October’s market meltdown.

In a blog post Wednesday, the exchange said that crypto projects cannot have any revenue-sharing models with market makers, and that market makers also cannot engage with projects to manipulate prices or distort liquidity of the tokens. Binance said it will take “swift, decisive action against any misconduct,” including blacklisting market makers.

“We’re committed to ensuring transparency and integrity across the crypto industry,” Binance said in the post. “Protecting our users ...