Sunday, October 20, 2019 2:47:35 PM
https://cointelegraph.com/news/pushing-for-crypto-self-regulation-amid-tightening-government-scrutiny
interesting...
SROs in the U.K. and U.S. (self-regulated organizations (SROs))
Crypto stakeholders in the United Kingdom also joined Asian countries in pioneering self-regulation for the industry in early 2018. Formed in February 2018, CryptoUK is the first-ever self-regulating trade body for cryptocurrencies.
Coinbase, CEX.IO, eToro and other major crypto businesses came together to form the association. With the U.K. having no cryptocurrency regulations, CryptoUK has sought to lobby members of Parliament to create favorable laws for the local crypto industry.
In the United States, crypto exchange and custody giants like Coinbase, Bittrex and Kraken established the Crypto Rating Council (CRC) in the end of September 2019. The CRC is an independent body that provides insight on whether crypto tokens can be classified as securities or not.
In its maiden crypto ratings, the CRC examined 20 different cryptocurrencies. For example, the council classified the likes of Bitcoin (BTC), Litecoin (LTC) and Monero (XMR) as not securities.
Related: Crypto Rating Council Is Out to Help Change US Regulatory Landscape
Again, the CRC is another example of a country-based SRO focusing on a major pain point of its local crypto scene. In the U.S., exchanges have to carefully navigate unclear regulations about which crypto tokens constitute securities.
Given that the U.S. Securities and Exchange Commission (SEC) has consistently maintained that most ICO tokens are securities, some U.S. platforms have been forced to geofence certain tokens or create separate local exchanges that list only tokens deemed not to be securities.
Before the CRC, U.S. crypto exchange platform Gemini proposed the formation of an SRO for digital commodities. According to a Gemini published post from March 2018, the Virtual Commodity Association (VCA) would only focus on nonsecurity crypto tokens. As previously reported by Cointelegraph, three other platforms — Bittrex, Bitstamp, and bitFlyer USA — joined Gemini in establishing the VCA.
In the past, several commentators have called on the crypto industry to pursue self-regulation. Even members of regulatory agencies like “crypto mom” Hester Peirce of the SEC and Brian Quintenz of the U.S. Commodity Futures Trading Commission (CFTC) have stated in the past that crypto businesses should develop modalities for self-regulation.
Recent XRPUSD News
- XRP Price Remains in Range: Can It Escape the Consolidation? • NEWSBTC • 09/25/2024 07:00:07 AM
- Ethereum ETFs See Largest Outflows Since July: Is Waning Institutional Demand Hurting ETH? • NEWSBTC • 09/25/2024 03:30:35 AM
- XRP Poised For ‘Massive Mega Pump’ After 540 Days of Consolidation, Predicts Crypto Analysts • ZyCrypto • 09/24/2024 09:37:50 PM
- XRP Remains Bullish: Crypto Experts Unveil Predictions For The Price • NEWSBTC • 09/24/2024 05:00:49 PM
- Massive XRP Rally Incoming? Analyst Predicts 220% Price Jump – Details • NEWSBTC • 09/24/2024 03:30:41 PM
- XRP Price Defends Support: Will Bulls Take Over? • NEWSBTC • 09/24/2024 04:18:39 AM
- XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally – Key Levels To Watch • NEWSBTC • 09/23/2024 06:30:00 PM
- XRP Price Could Soon Surge: Can Bulls Fuel the Rally? • NEWSBTC • 09/23/2024 04:28:47 AM
- Ripple CTO Denies XRP Price Suppression Accusations, Claims He Would Raise Price If He Could • ZyCrypto • 09/22/2024 05:19:13 PM
- Avalanche (AVAX) Could Rise 50% If It Breaks $28 Resistance – Crypto Analyst • NEWSBTC • 09/22/2024 02:00:17 PM
- Tether (USDT) Surges With Massive Inflows, Closing In On Historic $120 Billion Market Cap Milestone • NEWSBTC • 09/22/2024 12:00:42 PM
- Ripple’s XRP Whales Scoop 380 Million Coins As Community Banks On Gargantuan ‘$27 XRP Price’ • ZyCrypto • 09/21/2024 04:04:54 PM
- Bitcoin Indicator Signals ‘Shift To Bullish Territory’ – Can BTC Break Past $65,000? • NEWSBTC • 09/21/2024 04:00:16 PM
- Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction • NEWSBTC • 09/21/2024 02:00:06 PM
- Indian Supreme Court recovers YouTube account from XRP scammers • Cointelegraph • 09/21/2024 01:24:00 PM
- Bittensor (TAO) Unstoppable Uptrend: Soars 40% As Experts Forecast Future Price Gains • NEWSBTC • 09/21/2024 08:30:41 AM
- Kamala Harris Allegedly Working On Crypto Policies With Industry Advocates – Scaramucci • NEWSBTC • 09/21/2024 05:30:27 AM
- Grayscale XRP Trust Surges 11.44% One Week After Launch, Here’s The Catalyst • NEWSBTC • 09/20/2024 11:30:50 PM
- Bitcoin ETFs Attract $158 Million Inflows; MicroStrategy Expands Holdings by 7,420 BTC Purchase; PancakeSwap Unveils v4 • IH Market News • 09/20/2024 08:10:09 PM
- Price analysis 9/20: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 09/20/2024 05:42:14 PM
- Indian Supreme Court’s YouTube Channel Hijacked To Promote Ripple’s XRP • ZyCrypto • 09/20/2024 05:31:45 PM
- Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? • NEWSBTC • 09/20/2024 04:00:08 PM
- XRP Price Surge Could Hit 9,470% — Analyst Predicts $27 Target In Bold Forecast • NEWSBTC • 09/20/2024 01:00:04 PM
- Supreme Court of India YouTube channel hijacked to shill XRP • Cointelegraph • 09/20/2024 07:45:03 AM
- US ‘far behind’ on crypto, election no quick fix: Ripple APAC boss • Cointelegraph • 09/20/2024 05:58:47 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM