If you have money, then a token can easily being trade on decentralize exchange by providing Liquidity. Now most of project Spend money for making false papers, afterward get listed on any centralized exchange by fee what they required. I've been seeing such thing since a decade around. There is no lack of Scam projects, scamming us years. Just get listed on exchange with fund, creating hype then sold everything and run away. But some project use their money to being developed for long term for doing something helpful for world
Which is why people still prefer big centralised exchange when trading. Most scam coins are at decentralised exchange. While there are also scam coins in centralized exchange, they are less likely to be found on bigger centralized exchange.
Also, centralized exchange like Binance and Coinbase are as much as possible to follow government rules. So they will have stricter requirements when it comes to listing new coins.
Those big centralized exchanges like Binance will list a project only after it became big enough so the chances of complete scam projects from the beginning can't make through their criteria requirement but its highly possible for a project to rug pull once they made enough money and on most cases the exchanges can't do anything if the developer made the project to go into the way so regulations are pretty useless at the situation so don't think regulations from government will save you from scam projects.