Crypto Rating Council -- vague answer as to what cryptos are securities -- see where your coin rates (although it doesn't matter apparently)

By Anony | Crypto Fool | 1 Oct 2019


Leading exchanges, such as Coinbase and Kraken, announced they have created the Crypto Rating Council, whose purpose is to rate various cryptocurrencies in relation to how close they are to a security. As to what will be done with such information? Umm... I guess not much... as the ratings have no legal bearing and the SEC can choose to ignore them completely.

https://www.cryptoratingcouncil.com/asset-ratings


Perhaps the ratings will be used by exchanges to police themselves, and limit coins they have deemed to be close to or actual securities. However XRP was rated 4/5, and it's being sold everywhere. The council plans to rate additional cryptos in the future, although they already stated they won't list which coins get a 5/5 rating -- I suppose that would be giving us too much information.


Anyway, this is a first great step, providing a final answer that is both useless and completely vague and subjective.

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Anony
Anony

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