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Crypto Exchanges To Provide Mandatory API Data To CoinMarketCap In 45 Days

CoinMarketCap plans to remove cryptocurrency exchanges from its calculation system if they do not provide the required mandatory data by June, the company writes in its blog. It also announced the creation of a new alliance called “Data Accountability & Transparency Alliance” (DATA) to provide “greater transparency, accountability, and disclosure from projects in the crypto space.

Many exchanges have already joined the new alliance, including Binance, Bittrex, OKEx, Huobi, Liquid, UpBit, IDEX, OceanEX, Gate.io, KuCoin, HitBTC and Bitfinex. As part of the transparency initiative, CoinMarketCap will require all crypto exchange services to provide mandatory API data, which includes real-time trading data as well as order books information.

They also emphasized the mandatory condition, stating that if any exchange does not provide this data, it will not be included in the price and adjusted volume calculations on the site. Cryptocurrency exchanges have 45 days to send the required data; the changes will take effect on June 14, 2019, as is noted by representatives of CoinMarketCap.

Image courtesy of Terawattled

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