Coinbase was recently in the spotlight following an important move that the crypto exchange had made.
Coinbase Custody bought Xapo’s institutional business, and this decision made the entity the largest custodian in the whole world.
Coinbase rolled out its digital asset custody arm during 2018, and its recent acquisition follows a significant period of growth, according to the exchange.
Coinbase and Kraken mark a significant achievement
Coinbase and Kraken are currently making an important move in the crypto space.
The platforms are reportedly introducing a new points-based rating system that will be suggesting whether cryptos are subject to the US securities laws, according to the latest reports coming from the Daily Hodl.
Coinbase’s official post says the following:
“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 [or list a cryptocurrency].”
It’s been also reported that this system uses guidance that’s provided by the US SEC which “was created by the Crypto Rating Council (CRC), an organization that lists Anchorage, Bittrex, Circle Internet Financial, Coinbase, DRW Cumberland, Genesis Trading, Grayscale Investments and Kraken as its founding members,” according to the same online publication mentioned above.
Issues regarding cryptos and securities laws
It seems that the CRC system’s main focus is to provide regulatory clarity on whether cryptos such as BTC should be treated as securities.
The goal is to analyze the legal aspects of crypto projects and more issues regarding regulatory requirements.
It’s been reported that the rating framework suggests that Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) are the least likely to be considered subjected to securities laws.
Head over to the original article in order to find out the complete CRC ratings.
Speaking of Monero, the privacy-oriented coin is trading in the green today on CMC and XMR is priced above $57.61 following the recent price fall in the crypto market.