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Why centralized exchanges refuse to list legacy crypto tokens without explicit SEC immunity

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Why centralized exchanges refuse to list legacy crypto tokens without explicit SEC immunity

Vault12 raised $17.45 million selling VGT in 2018 and says it met or dropped every promise, yet the token has never traded on a centralized exchange.

Why centralized exchanges refuse to list legacy crypto tokens without explicit SEC immunity

Source：CoinDesk

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Source：https://www.coindesk.com/policy/2026/10/21/why-centralized-exchanges-refuse-to-list-legacy-crypto-tokens-without-explicit-sec-immunity