New Council To Rate Crypto Assets On Securities Scale
Law360 (September 30, 2019, 4:50 PM EDT) -- Top cryptocurrency companies announced the launch Monday of the Crypto Rating Council in an effort to address one of the most difficult legal questions in the cryptocurrency world: the classification of a crypto asset under U.S. federal securities law.
The CRC will assign a rating of between 1 and 5 to cryptocurrencies, with 5 most closely resembling a security under federal law, the companies said. The council’s founding members are among the leaders in the digital asset world, including trading platforms Coinbase and Kraken, crypto custody company Anchorage and digital asset platform Circle.
While the U.S. Securities and Exchange Commission has...
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