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Crypto’s biggest exchanges back push for token disclosure standards as industry courts institutional capital
More than 40 crypto firms, including rival exchanges Coinbase and Kraken, are backing a Blockworks-led framework aimed at bringing stock market-style disclosures to token markets.
May 27, 2026, 2:00 p.m. 2 min read
What to know:
- More than 40 crypto firms, including Coinbase, Kraken and Binance.US, have formed the Transparency Alliance to promote standardized, stock-style token disclosures.
- The group will use Blockworks’ Token Transparency Framework, which offers both one-time and continuously updated filings covering insider allocations, market maker deals, listing terms and other key data.
- The framework, which is free for issuers and has already been used by 44 protocols, has drawn interest from U.S. regulators and aims to give investors clearer information without judging whether tokens are good or bad investments.
“When investors buy a stock, they understand what they own. When they buy a token, they do not,” Blockworks co-founder Jason Yanowitz told CoinDesk. “Critical information is often scattered, incomplete, or unavailable.”
A total of 44 protocols have completed Token Transparency Framework filings since the standard launched in June 2025, including Morpho, Jupiter, Spark and dYdX.
The framework includes two filing types: a one-time disclosure for new token launches, modeled loosely on an S-1 registration filing, and a continuously updated filing for mature protocols. Both cover items such as entity structure, insider token allocations, market maker agreements, exchange listing terms and buyback programs.
