Coinbase-Backed Crypto Ratings Council Adds eToro, OKCoin

The Coinbase-backed Crypto Ratings Council, a group of major United States' cryptocurrency firms seeking regulatory clarity, has welcomed new members.

Established in late 2019, the CRC has expanded to include members like trading platform eToro, crypto exchange OKCoin and Radar, the startup behind decentralized exchange Radar Relay.

Coinbase announced the news in a press release shared with Cointelegraph on Jan. 16.CRC now counts 11 members including Goldman Sachs-backed crypto finance firm Circle.

Officially launched on Sept. 30, 2019, the CRC aims to jointly determine which digital assets should be considered securities and thus fall under the jurisdiction of the U.S. Securities and Exchange Commission.

As part of the effort, the CRC has been publishing online ratings for digital assets on a scale from 1.00 to 5.00, where the highest score means that a token is likely to be considered as a security and cannot be sold by unregulated firms.

Five new digital assets on CRC's online ratings.

In conjunction with announcing the new members, the CRC has also announced five new digital assets joining its public online ratings.

According to the press release, the CRC securities Framework Asset Ratings added popular cryptocurrencies like Dash, Ethereum Classic, Cosmos, as well as lesser known altcoins like Horizen and Livepeer.

In the press release shared with Cointelegraph, Coinbase said that the CRC's analysis is "Its own and is not endorsed by developer teams, regulators, or any other third party."

According to the CRC's ratings, XRP is likely to be a security as it has one of the highest ranks among all analyzed digital assets, ranked 4.00 at press time.