- Coinbase announced the formation of a Crypto Rating Council this week, which aims to rate the likelihood a token will be considered a security by U.S. regulatory bodies
- The Council presents analysis by legal and tech experts from member firms as a tool for businesses, but says it does not offer legal advice
- Coinbase’s legal counsel responded to concerns of conflicts of interest
Crypto firms are coming together to flesh out which tokens are more likely to be deemed securities by U.S. regulatory bodies in the Coinbase-led Crypto Rating Council. The member-operated coalition plans to elucidate legal characterizations of tokens with its sliding scale, but some aren’t sold on the value of a business-operated rating council.