01 Oct Cryptocurrency Exchanges Including Coinbase Disclose Ratings of Digital Assets
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The U.S.’s biggest cryptocurrency exchanges have developed a system to rate which digital assets are probably securities that can’t be traded on their venues—and which likely can.
The system, which was unveiled Monday, comes as the industry continues to face skepticism from regulators about how it protects investors and complies with federal laws, including anti-money-laundering provisions.
Cryptocurrency developers have resisted the idea that most digital assets should fall under an existing regulatory approach. A two-year clash with the Securities and Exchange Commission has moved the companies toward reckoning with which cryptocurrencies qualify as investments that should fall under federal rules written for Wall Street. The SEC hasn’t endorsed the group’s approach and could question any decisions to list tokens for trading.
Exchange operators involved with the effort include Coinbase Inc., Kraken, Circle Internet Financial Ltd. and Bittrex Inc.
SEC Chairman…
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