Katie Biber, General Counsel
We’re proud to announce that Anchorage has joined fellow leading crypto businesses to form the Crypto Rating Council (CRC), a member-operated entity dedicated to improving compliance with U.S. securities laws. The CRC’s founding members are Anchorage, Bittrex, Coinbase, Circle, DRW Cumberland, Genesis Trading, Grayscale, and Kraken. Like other founding members, we are deeply committed to the responsible growth and development of cryptocurrency and blockchain technologies in the U.S. and share a belief that these technologies will have a massive positive impact on the world.
The mission of the CRC is to evaluate whether any given crypto asset has characteristics that make it more (or less) likely to trigger application of federal securities laws, since the classification of a given asset significantly impacts how crypto service providers operate. Understanding whether any given crypto asset is a security requires a fact-intensive analysis, which is difficult and expensive to operationalize, and may involve judgment calls.
Operating with clarity requires shared definitions and frameworks, informed by deep technical and legal expertise, applied consistently. To this end, the CRC will rate each asset according to a clear rating system derived from SEC guidance and case law. We believe the CRC’s framework is objective and repeatable, reducing the costs of compliance for the industry. While it is expected that each member company will use the CRC ratings, member companies will make independent decisions on which assets to support based on their organizations’ respective business objectives. The CRC will publish asset ratings as a shared public reference.
While the CRC’s ratings are independent and not endorsed by the SEC or any government agency, blockchain project, or other non-member entity, we look forward to working closely with policymakers and other experts to improve our analysis and expand the CRC’s set of asset ratings.
Services are offered either through Anchorage Hold LLC, a Delaware limited liability company and registered Money Services Business, or Anchorage Trust Company, a South Dakota-chartered trust company. Anchorage Hold and Anchorage Trust Company are not registered with the SEC. Services are not yet offered to residents of New York. Anchorage Hold and Anchorage Trust Company do not engage in the offer or sale of securities or digital assets, and do not provide legal, tax, or investment advice. Anchorage Hold LLC and Anchorage Trust Company are wholly-owned subsidiaries of Anchor Labs Inc., a Delaware corporation headquartered in San Francisco, California.