The major U.S. crypto exchanges and custody platforms along with the Coinbase, Circle, Bittrex and Kraken have created an independent rating platform for crypto tokens.
MAKER AND POLYMATH ARE MOST LIKELY SECURITIES, SAYS CRC
The Crypto Ratings Council (CRC), is evaluating cryptocurrencies to see if they list as securities.
According to a report, Maker (MKR) and Polymath (POLY) have the highest similarity of securities features among all the 20 estimated cryptos. Both tokens totalled 4.5 out of a maximum of 5 points.
According to the notes which CRC has given, a score of 1 means the crypto is least like a security while a score of 5 means the token shares many similarities with a security.
BITCOIN HAS LEAST RESEMBLANCE TO SECURITIES:
On the other end of the spectrum, CRC scored 1 on CRC’s ratings such as Bitcoin (BTC), Litecoin (LTC), Dai (DAI), and Monero (XMR).
For all four tokens, the CRC identified that the lack of marketed token sales in expectation of a profit as an explanation for its low similarity to security tokens.
The Council also pointed out the decentralized nature of the projects, as well as, their tangible utility.
The U.S. Securities and Exchange Commission (SEC) had classified bitcoin and like cryptos as not being securities in 2018.
CRC RATINGS TO SERVE AS U.S. CRYPTO TRADING TEMPLATE?
According to the declaration, the Council’s ratings are as a result of independent analysis on the various cryptocurrency tokens. An excerpt Coinbase’s statement reads: “The result of the analysis is a score which makes it easy for members to synthesize the analysis across many tokens and make their own, independent business decisions about whether or how to support an asset.”
With U.S.-based exchanges are highly under pressure from regulators, the CRC’s rating might serve as a guide in determining which tokens to list.
