Bitcoin and cryptocurrency companies have been struggling in recent years against vague regulation and characterization of cryptocurrencies.
Wild swings in bitcoin and cryptocurrency prices, which soared throughout 2017 only to crash back down to earth last year, meant regulators around the world scrambled to protect potential bitcoin buyers but questions remain around whether digital tokens are securities–leaving crypto companies uncertain about how future legislation will affect them.
Now, bitcoin trading and investment giants Anchorage, Bittrex, Circle, Coinbase, DRW Cumberland, Genesis, Grayscale, and Kraken have banded together to create the Crypto Rating Council in order to better decide which digital assets can and cannot be traded on their platforms.