Crypto Exchanges Developed a Digital Money Classification System
Large trading platforms, such as Coinbase, Kraken, Poloniex, and others, have learned to identify the signs of securities in altcoins. Based on the data received, exchanges will make decisions on listing altcoins. Companies founded the cryptocurrency valuation committee, assets will receive points on a scale of 1 to 5, the value will show the probability of Altcoin to be a security. Cryptocurrency issuers will transmit information to exchanges that will affect the valuation. “In this way, we show the SEC what each exchange is doing to come to a specific decision” - Mary Beth Buchanan, Kraken's chief legal adviser said. https://twitter.com/lawmaster/status/1178627290676301824 Trading floors rated Bitcoin at 1, while the Ripple XRP token received 4 points. According to the exchanges, the cryptocurrencies Maker and Polymath are closest to recognition as security.