Crypto Rating Council, an organization led by Coinbase and seven other platforms, announced the inclusion of three new members and the publication of five new asset scores, namely, crypto exchange OKCoin USA, social trading network eToro USA, and RADAR, a blockchain tech platform.
With this latest addition, the three platforms join eight other industry players to further efforts in offering a more systematic U.S. securities law analytical framework for the crypto-assets. Its official blog post stated,
“CRC members are committed to the responsible growth and maturation of crypto asset markets and share a belief that practical compliance tools can accelerate the growth of our industry.”
In addition to that, CRC has published new asset ratings for five additional tokens Cosmos [ATOM], Livepeer [LPT], Dash [DASH], Ethereum Classic [ETC], and Horizen [ZEN]. According to the release, each of the aforementioned tokens are traded, transacted or supported in some capacity as a non-security by at least one member’s U.S. business.
So far 25 assets have been rated by CRC. Bitcoin and Litecoin received a rating of 1 each, EOS received 3.75, both Ethereum and Ethereum Classic was rated 2 while XRP received 4. Privacy coin Monero [XMR] was rated 1. Elaborating more on the rating, the council stated,
“As a reminder, a score of 1 means the CRC analysis found that an asset has few or no characteristics consistent with treatment as a security while a score of 5 means the CRC’s analysis found that an asset has more characteristics strongly consistent with treatment as a security under U.S. law.”
Besides, the blog also revealed that CRC expects to roll-out its analytical framework, publish additional asset scores, and continue to engage the developer community in the near future.