Crypto Rating Council CRC Added IOTA While Ignoring Ripple

The Crypto Rating Council CRC is a US-based consortium of crypto firms that advocates better regulatory clarity in the crypto space and backed by major companies such as Bittrex, Kraken, and Coinbase.

With the growing debate over whether cryptocurrencies go under the securities category apart from Ethereum and Bitcoin which are considered assets, they analyzed a lot more of the digital assets and tried to determine whether the possess traits of security. In a blog post by the Crypto Rating Council CRC, we can see that they revealed three new cryptocurrencies to their lists with different ratings including IOTA, Basic Attention Token and the USDCoin. The blog post also revealed that the recent analysis was based on previous reviews ratings and the developments in the public domain. The CRC also updated scores for Polymath tokens and Maker.
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The CRC rates each token from 1-5 and the higher the rating the higher the chance of acting as a security. The ratings are important because they ensure that these are not illegally sold. Every country has different security laws and they have to follow them and provide even more clearance before making it into the market. however, the CRC is now affiliated to any government entity and the ratings are not endorsed by regulators or third parties.

The CRC rating gave IOTA a score of 2.00 which makes it unlikely to be a form of security. IOTA climbed among the top of the decentralized projects and the current rating from the Crypto Rating Council will help enhance its credibility on the US market. The platform responded:

 “With our Crypto Ratings Council rating, we believe the US market and CRC’s partner organizations will feel more comfortable and confident engaging with the IOTA token and protocol.”

Apart from IOTA, BAT scored 2.00 while the USDC scored the lowest of 1.00 suggesting the least qualities of security. The USDC which is US-backed stablecoin and DAI scored 1.00 on the CRC ratings suggesting stablecoins show even fewer traits of security. The XRP token was evaluated back in 2019 and scored 4.00 showing high traits of security. The CRC ratings are not taken into consideration by governments or regulators so they won’t change their opinions any time soon, but Ripple is facing a lawsuit for being security in the US.