Although the crypto currencies and exchanges working for a long time but the evolution and developments still continues in this field. Companies and exchanges are making better and secure environment for the consumer to buy and sell or store crypto currency with safety. Some of the steps are taken by individual companies but for some developments collective measures are required to fulfill requirements.
A collective measure is taken by Coinbase, Bittrex, Kraten and some other exchanges going to introduce a rating system for exchanges and coins. To make the market more clear about services. It help crypto traders to indentify rating of crypto currency better services. These rating range between 1-5. Based on services and security.
Bittrex CEO said that “The Crypto Rating Council’s mission of operationalizing SEC guidance is one that deeply resonates with Bittrex, and me. Today’s regulatory complexity and uncertainty creates a challenging environment for emerging US blockchain technologies. By uniting as a Council to set industry standards and help clarify regulatory guidance, we can reinvigorate responsible blockchain and cryptocurrency growth in the US.”
Chief Legal Officer for Coinbase Said that “Coinbase is proud to bring together many of the largest and most credible companies in the cryptoeconomy to implement the first industry wide crypto rating system”