Dash scores 1.0 on the Crypto Ratings Council scale which is the same as Bitcoin, being the lowest and the best score that an asset can achieve on the scale. But how can it be treated the same as BTC? Let’s find out what the Core Group CEO Ryan Taylor thinks in the latest Dash news crypto today.
Ryan Taylor stated that Dash went through a harsh process of developing a set of legal arguments presenting them to the SEC and it got a score of 1.0 by the Crypto Rating Council. He asked:
“Why should #Dash be treated the same as #Bitcoin from a regulatory standpoint in terms of SEC and FATF Travel Rule?”
Ryan Taylor further explained:
“So, I think it is very clear at this point that Dash is not a security. We never held an ICO. There is no centralized issues. There really are very few if any reasons why you could point to Dash being a security on par with Bitcoin itself.”
Speaking on the issue of privacy, there’s a lot of noise about the FATF travel Rule and other rules that are implemented and whether or not the privacy coins can be compliant. What is utilized in the privateSend function is CoinJoin which is a technique that completes transactions to the point that they are much more difficult for analytics firms to analyze. CoinJoin is available and was available since 2013. Taylor continued to say that they conducted PrivateSend transactions duplicates on the BTC blockchain just to show that there’s no major difference between the transactions.
What Dash has done is standardize the transactions. They are now easier and cheaper to implement as you only need to push a button:
“Literally just push a button, but making something simpler or easier does not make it legally different in anyway. And, so, you know we’ve had to do a great deal of education with regulators. We engage with them regularly with regulators across the globe, same with exchanges. So, it’s an education process to show them that there are no legally definable differences between the transactions themselves.”
It’s interesting to see that Ryan pointed out how Bitcoin has off-chain transactions via the Lightning Network which is something that Dash doesn’t support. Sydney Ifergan tweeted on the matter:
“It just looks like post-recession all cryptos like Cardano, Dash, Ethereum, and TRON are all in a race!”
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