Coinbase-Backed Crypto Ratings Council Welcomes New Members

The Coinbase-backed Crypto Ratings Council (CRC), a group of major United States’ cryptocurrency firms seeking regulatory clarity, has welcomed new members.


Coinbase-Backed Crypto Ratings Council Adds eToro, OKCoin https://t.co/xKVjeCcpzf pic.twitter.com/Hy12iboNYV — candle stick fortune telling (@thebtcdream) January 16, 2020

On January 16, it has been reported that the CRC has expanded to include members like eToro, the trading platform; OKCoin and Radar, the crypto exchange, the startup behind decentralized exchange Radar Relay.

As the new participants join eight other industry leaders in the council, the CRC now counts eleven companies that strive for more clarity from U.S. securities law on cryptocurrencies.

Other CRC members include Kraken exchange, Goldman Sachs-backed crypto finance firm Circle, Bittrex, Genesis Global Trading, Grayscale Investments, Anchor Labs, DRW Holdings’ Cumberland unit, and Coinbase itself.

However, the CRC aims to jointly determine which digital assets should be considered securities and thus fall under the jurisdiction of the U.S. Securities and Exchange Commission (SEC). As part of the effort, the CRC has been publishing online ratings for digital assets on a scale from 1.00 to 5.00, where the highest score means that a token is likely to be considered as a security and cannot be sold by unregulated firms.

In conjunction with announcing the new members, the CRC has also announced five new digital assets joining its public online ratings.

According to the report, the CRC securities Framework Asset Ratings added popular cryptocurrencies like Dash (DASH), Ethereum Classic (ETC), Cosmos (ATOM), as well as lesser-known altcoins like Horizen (ZEN) and Livepeer (LPT).

Thus, Dash is one of six cryptocurrencies that are ranked 1.00 as of press time and considered by the CRC to not represent security alongside Bitcoin (BTC), Litecoin (LTC), Monero (XMR), Dai (DAI), and Horizen.

Source: cointelegraph.com

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