Cryptocurrencies have the potential to solve some of the issues created by the coronavirus pandemic. However, to accomplish this goal crypto company should comply with regulations created by the authorities. This way it will be possible to minimize the risk factors. Recently, one cryptocurrency exchange became a member of the Crypto Rotating Council or CRC. The name of this exchange from New York is CrossTower.
According to CrossTower’s co-founder Kristin Boggiano, they want to play a more active role when it comes to promoting standards among other objectives.
Currently, this cryptocurrency exchange offers the most widely traded currencies such as Bitcoin, Ether, Litecoin, USDC, Bitcoin Cash, and Zcash. Furthermore, CrossTower plans to introduce additional assets and services later this year.
CrossTower, CRC, and crypto industry
It is worth mentioning that rankings configured by the CRC provide interesting details. As a reminder the Crypto Rotating Council attempt to rate crypto assets involved in legal framework compliance in the U.S.
For example, the lowest CRC score of 1 indicates an asset with a few or no characteristics of a security. Furthermore, a score of 5 indicates characteristics that fully comply with U.S. securities law. It is not easy to comply with regulations, but thanks to Crypto Rotating Council it is easier to comply with regulations.
As mentioned above, CrossTower became a member of the Crypto Rotating Council (CRC). Currently, there are 12 members and CrossTower is the newest member. The council includes Coinbase, Anchorage, Genesis Global Trading, and Cumberland.
The mission of the Crypto Rotating Council is to provide a more systematic U.S. securities law analytical framework for crypto assets. Notably, the CRC is a diverse group of leading crypto businesses.
Moreover, members of this council are committed to responsible growth. It wants to create related financial infrastructure as well as trading services. Also, it is promoting regulatory clarity in the industry.