CrossTower Joins CRC As Its Newest Member
CrossTower Joins CRC As Its Newest Member
June 11, 2020
CrossTower Joins CRC As Its Newest Member
CrossTower Joins CRC As Its Newest Member
June 11, 2020

CrossTower, the New York-based cryptocurrency exchange, has joined Crypto Rating Council (CRC) as the council’s newest member along with 11 other industry companies.

On June 10, it has been reported in an announcement that the CRC was pleased to select CrossTower to join the group.

Their existing membership includes:

  • Coinbase
  • Cumberland
  • Anchorage
  • Genesis Global Trading

However, the CRC stated that its mission is to provide a “more systematic” US securities law analytical framework for crypto assets, promoting regulatory clarity in the industry.

As per the report, rankings configured by the CRC attempt to rate crypto assets involved in legal framework compliance in the US.

It has been analyzed that the lowest CRC score of 1 indicates an asset with few or no characteristics of a security. In contrast, a score of 5 indicates characteristics strongly consistent with treatment under US securities law.

ALSO READ :  Overstock Shows Triple-Digit Percentage Growth In Q2

Kristin Boggiano, the co-founder of CrossTower, said:

“We are honored to have been selected to join the CRC and look forward to increasing visibility, promoting standards, and contributing to the safe and orderly growth of the digital asset industry.”

The announcement also stated that since the ranking scheme’s launch and the initial publication of 20 asset scores last fall, the crypto exchange has made ”steady progress engaging the developer community” by recruiting industry members and producing additional asset scores.

Thus, CrossTower claimed that it plans to introduce additional assets and services “later this year,” which will be part of CRC oversight as well, aside from currently offering five of the most widely traded currencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC)USDC, Bitcoin Cash (BCH), and Zcash (ZEC).

Source: Cointelegraph | Image: Pixabay


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

MicroStrategy Hits Another $10 Million Purchase

MicroStrategy Hits Another $10 Million Purchase

MicroStrategy has hit another $10 million purchase after March 4 (Thursday’s) market uncertainty. It has been reported that Michael Saylor, the CEO of MicroStrategy, said that the company purchased another 205 BTC at...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.