Exchanges such as Coinbase have developed a system that identifies the nature of securities in digital assets.

According to the Wall Street Journal, Coinbase, Bittrex, Kraken, and Circle Exchange have developed a system for rating and identifying cryptocurrencies that identifies which digital assets may be securities that cannot be traded on their exchanges and which ones. General cryptocurrency traders will resist the idea that digital assets are part of the existing regulatory approach. However, the US SEC has not yet approved the practice of these exchanges, and may question any decision of the exchange to trade tokens online.