Cryptocurrency

Celsius

United

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-rating-agencies-a-call-for-trust-and-transparency-in-the-cryptocurrency-sector" rel="noopener noreferrer nofollow">Crypto Rating Agencies: A Call for Trust and Transparency in the Cryptocurrency Sector</a> 
Over a year after the 2022 Terra, FTX, and Celsius collapses, industry leaders advocate for the role of crypto rating agencies in mitigating risks within the <a href="https://en.bitcoinhaber.net/mastering-the-crypto-market-strategic-investment-and-diversification" rel="noopener noreferrer nofollow">cryptocurrency</a> sector. Ben Goertzel, CEO of SingularityNET, suggests that rating agencies could enhance trust in the crypto industry.
Goertzel expresses disappointment in the lack of substantial regulatory efforts to bolster credibility in the crypto sector since 2022. He believes that transparent, crowd-sourced, and intelligently compiled rating mechanisms could significantly benefit the crypto environment.
Advancements in artificial intelligence technology now facilitate the use of raw data and reports to generate reliable assessments of various crypto assets, according to Goertzel. He argues that existing laws against fraud, as demonstrated by the handling of the FTX case in the United States, are sufficient to tackle crypto fraud without the need for specialized legislation.
While Goertzel doubts rating agencies could have prevented FTX’s bankruptcy, he believes they could have alerted customers to numerous red flags. Anastasia Ulianova, co-founder of the crypto rating platform Arian, acknowledges limitations in the role of rating agencies during bankruptcy processes but sees their potential in raising red flags when a crypto company’s risk exceeds its performance.
Despite these limitations, Ulianova maintains that rating agencies can help investors determine if the expected returns justify the risks of crypto assets, aiming to legitimize their place in traditional investment portfolios.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-rating-agencies-a-call-for-trust-and-transparency-in-the-cryptocurrency-sector" rel="noopener noreferrer nofollow">Crypto Rating Agencies: A Call for Trust and Transparency in the Cryptocurrency Sector</a></h5>

Crypto Rating Agencies: A Call for Trust and Transparency in the Cryptocurrency Sector

BH NEWS

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