Wondering after XRP: 12 altcoins similar to securities
Important games of the cryptocurrency industry, such as Coinbase, Bitstamp, Kraken and Bittrex, came together in 2019 to form a formation called The Crypto Rating Council (CRC).
CRC; cryptocurrencies range from 1 to 5, and the highest value indicates that a token is a securities, the lowest value is not an ISE. The closer a cryptocurrency has a rating of 5, the higher the need for it to be classified as a securities.
Accepting a cryptocurrency as a securities under U.S. law brings a number of sanctions. Recently came an event agenda with Ripple and xrp. The U.S. Securities and Exchange Commission (SEC) charged Ripple and two of its executives, CEO Brad Garlinghouse and dry partner Chris Larsen, with selling $ 1.3 million of unregistered securities. Here, what the SEC claimed to be securities was XRP. Now if Ripple cannot prove whether XRP is a Securities, and the court considers XRP to be a securities, XRP will not be used by U.S. companies, and exchanges without a securities license will not be able to list XRP. Accepting XRP securities will make cryptocurrency a maintenance function.
The SEC has previously clamped down on many projects in this way. The best known of these are EOS, Telegram and Kik. For those who wonder what developments occurred in these projects in the wake of the SEC’s accusations: what happened in the projects that the SEC had previously clamped down on?
So which crypto Rating Council considers the highest need for cryptocurrency projects to be considered securities?
TRX, CKB and DOT: high risk according to preliminary assessment
As we reported in June, The Block has already conducted an assessment of three cryptocurrencies by the Crypto Rating Council (CRC), in addition to other cryptocurrencies. These were TRX, CKB and DOT.
At this point, it was just a preliminary assessment, and it is necessary to force that the notes were not concluded, not published. According to the April 16 rating, TRX, CKB and dot each received a 4.75 out of 5 rating.
In the same way, it evaluates XRP with ISE 4.00.
Based on the Crypto Rating Council’s assessment, other cryptocurrencies that are most likely to be securities are as follows::
- Augur (REP) – 3.75
- Cosmos (ATOM) – 3.75
- Decentraland (MANA) – 3.75
- FOAM (FOAM) – 3.75
- Hedera Hashgraph – HBAR) – 3.75
- Livepeer – LPT) – 3.75
- Bench network – bench) – 3.75
- Stars (XLM) – 3.75
- Tezos – XTZ) – 3.75