Crypto Rating Council

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Crypto Rating Council
Crypto Rating Council logo.jpeg
Founded 2019
Products Informal guidance on which cryptocurrencies are securities

Coinbase announced in a blog post that it had been joined by Anchorage, Bittrex, Circle, Cumberland DRW, Genesis Trading, Grayscale Investments, and Kraken to form the Crypto Rating Council.[1]

The Council's role is to assess the extent to which any specific cryptocurrency is "likely to implicate the U.S. federal securities laws." The Council rates cryptocurrencies on a scale of 1 to 5, 5 indicating that a cryptocurrency is most like a security.[2] Coinbase said the ratings are conducted independently and further noted, They are not endorsed by the SEC, CFTC, or any government agency, developer team, or other third party, and they are not legal advice." [3]

On its first day, September 30, 2019, the Council revealed that it had rated 20 cryptocurrencies. Bitcoin, Dai, Litecoin and Monero were all rated 1. Ethereum was rated 2.[4]