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    XRP Rated as Security while Bitcoin, Litecoin, & Monero has the Least Score: Crypto Rating Council

    • Crypto exchanges and investment giants come together to rate digital assets

    Cryptocurrency exchanges and investment platforms have taken it upon themselves to determine which crypto asset is a security and which isn’t.

    Coinbase, Kraken, Bittrex, Circle, Genesis, Grayscale, DRW Cumberland, and Anchorage have come together to create the Crypto Rating Council to decide which digital assets can and cannot trade on their platforms.

    The framework results in a score between 1 and 5, with 1 meaning he asset has no characteristics of traditional regulated security and a score of 5 representing that an asset is strongly consistent with treatment as security. As per this framework, Bitcoin, Dai, Litecoin, and Monero has the least score of 1 while on the other end of the scale are Polymath (4.50), Maker (4.50), and XRP (4).

    However, this didn’t go well with XRP community.

    “The Council’s ratings are performed independently,” and “not endorsed by the SEC, CFTC, or any government agency, developer team, or other third party, and they are not legal advice.”

    The council will review more assets and might even develop similar tools for non-US jurisdictions.

    The diverse group of leading crypto financial services firms as per the official website, are companies “committed to the responsible growth and maturation of cryptocurrency markets and related financial infrastructure and trading services.”

    The members believe “practical compliance tools” can help the market participants support growth and adoption of the digital assets in the US and around the world. While the US SEC’s guidance has been helpful in alerting the crypto industry to complex legal issues, determining which asset is security or not “remains highly circumstantial.”

    This complexity, they say has slowed the launch of new crypto assets in the US and as such decided to take matters into their own hands.

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    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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