This week has been particularly interesting as talk around self-regulation to ensure compliance and trust in the space is established. More talk around stablecoins issuance has also taken center stage among tech giants.
Self-regulation is also a hot topic in the West this week as CoinBase and Kraken, some of the biggest crypto exchanges in mainland USA, teamed up to launch a Crypto Ratings Council. The council will be publishing online ratings for digital assets on a scale of 1 to 5 with the highest score considered a security that cannot be issued, sold, or traded by unregulated firms. The council aims to show the regulator the exchange’s efforts to self regulate on the issue of whether a certain token is a security or not.