CryptoCompare has released its Cryptoasset Taxonomy Report, which aims to help regulators and investors to differentiate between assets based on legal, economic and technological factors.
The report is an independent classification of cryptoassets based on global data from CryptoCompare, and provides analysis of more than 200 assets based on 30 groupings including regulation, market cap and level of decentralisation.
Charles Hayter, CEO and founder of CryptoCompare, said: “Daily, retail and institutional investment communities express an appetite to invest and develop investment products and instruments based on cryptoassets. Key to this is the demand for a single, independent and trustworthy taxonomy offering transparency, consistency and confidence.”
The various groupings used by the report are based on factors deemed to be important for making informed investment decisions, aiming to help both retail and institutional investors learn more about the nitty gritty of the space.
“Based on our deep understanding of the cryptocurrency space and the breadth and integrity of our data, we are confident that this taxonomy will help industry participants, as well as regulators, gain a better understanding of the cryptocurrency landscape,” Hayter continued.
“In this nascent but fast evolving industry, we aim to offer the clarity required to navigate the complex crypto markets, helping all investors benefit from our experience and insights, and make well-informed investment decisions.”
Leon Marshall, author of the report, added: “I’m incredibly roud of the bottom-up research that our team has undertaken for this taxonomy. As the cryptoasset space matures, I am confident that our taxonomy can be used both as an intellectual framework and as a foundation for additional research.”