Difference between revisions of "Crypto Rating Council"
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Latest revision as of 21:33, 14 May 2021
| Crypto Rating Council | |
| |
| Founded | 2019 |
|---|---|
| Products | Informal guidance on which cryptocurrencies are securities |
| Website | Crypto Rating Council |
| Blog | CRC blog |
The Crypto Rating Council is a group of cryptocurrency companies that seek to create standards for other companies to follow to help ensure compliance with regulatory agencies like the SEC.[1]
Coinbase announced in its own 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.[2]
The Council created a system that rates cryptocurrencies on a scale of one to five, with one indicating that a cryptocurrency is most likely a security, and five meaning it is likely not a security.[3] Coinbase has said the ratings are conducted independently, and further noted that they are not endorsed by the SEC, CFTC, or any government agency, developer team, or another third party, and that theirs is not legal advice.[4]
On its first day, September 30, 2019, the Council revealed on its website that it had rated 20 cryptocurrencies. Bitcoin, Dai, Litecoin and Monero were all rated 1. Ethereum was rated 2.[5]
In a blogpost in January 2020, the group announced that it had added OKCoin, RADAR and eToro USA as members. The Crypto Rating Council also announced its ratings for Cosmos (ATOM), Livepeer (LPT), Dash (DASH), Ethereum Classic (ETC), and Horizen (ZEN) at the same time.[6]
In May 2021, the Crypto Rating Council published its rubric for evaluating whether a digital asset is a security or not.[7][8]
References
- ↑ Here's how Coinbase, Kraken and others have been deciding which cryptos are securities. The Block.
- ↑ Introducing the Crypto Rating Council. Medium.
- ↑ Website. Crypto Currency Council.
- ↑ Introducing the Crypto Rating Council. Medium.
- ↑ CRC Securities Framework Asset Ratings. Crypto Ratings Council.
- ↑ Crypto Rating Council Adds New Members and Additional Asset Scores. Medium.
- ↑ Here's how Coinbase, Kraken and others have been deciding which cryptos are securities. The Block.
- ↑ Crypto Rating Council's Securities Law Framework. CRC.
