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CrossTower joins the Crypto Rating Council

June 11, 2020

Cryptocurrency Exchange CrossTower is now part of the Crypto Rating Council (CRC) and joins 11 other companies in the industry as the newest member of the council.

According to the June 10 announcement The CRC was pleased to select the New York-based company to join the groupExisting members include: Coinbase, Cumberland, Anchorage and Genesis Global Trading.

The CRC states that its mission is to provide a more “systematic” US crypto asset analysis framework that promotes industry clarity.

Provides a clear picture of U.S. regulatory affairs related to the cryptocurrency industry

CrossTower joins the Crypto Rating CouncilCrossTower joins the Crypto Rating Council

The classifications configured by the CRC, They are trying to evaluate the crypto assets that are related to compliance with the legal framework of the United States.

The lowest CRC value is 1, which indicates that an asset has little or no security features, compared to a value of 5, which indicates features that are very consistent with US securities law compliance.

Kristin Boggiano, co-founder of CrossTower, said the following after the announcement:

“We are honored to have been selected to join the CRC and look forward to increasing visibility, promoting standards, and contributing to the safe and orderly growth of the digital asset industry.”

CrossTowers reason to join the CRC

The announcement also says that since the launch of the ranking scheme and the first publication of 20 asset scores last fall The crypto exchange has “made steady progress by involving the developer community”.Recruit industry members and create additional asset scores.

In addition to the current offering of five of the most frequently quoted currencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), USDCoin (USDC), Bitcoin Cash (BCH) and Zcash (ZEC), the New York-based cryptocurrency exchange, claimed The company plans to introduce additional assets and services “later this year” that will also be monitored by CRC.

On April 2, CRC released an introduction to the ratings of three new cryptocurrencies, including the Basic Attention Token (BAT), USDCoin (USDC) and Iota (IOTA).