A new crypto ratings index from China’s Center for Information and Industry Development (CCID) is out.
The government-sponsored index ranks the top crypto assets based on three key factors – tech, applicability and creativity.
The index places a premium on smart contract platforms, with EOS, Ethereum and Tron taking the first, second and third spots, respectively.
Other leading cryptocurrencies by market cap are much further down the list, with Bitcoin at #9, Stellar Lumens at #10, and XRP at #18.
Litecoin and Bitcoin Cash are even further down the list, at #27 and #32, respectively. The list does not include Binance Coin or Bitcoin SV, which are the 8th and 9th largest coins by market cap.
Here’s a look at the complete rankings for December.
Despite strong support of blockchain technology from President Xi Jinping, China continues to draw a hard line against cryptocurrency.
The country appears to be stepping up its enterprise support for blockchain while also rebooting a strict ban on domestic cryptocurrency exchanges, which initially began in September of 2017.
Late last month, China’s central bank released a statement outlining the government’s strong stance against crypto.
Primitive Ventures partner Dovey Wan highlighted a few key points from the release.
“1. ICO, IFO, IEO, STO are all unauthorized illegal public offering and securities issuance, and potentially illegal fund-raising, financial fraud, pyramid schemes and other illegal crimes.
2. Shanghai law enforcement agency will conduct ‘Special rectification of cryptocurrency-related trading platform, which can be registered overseas, shall be immediately rectified and retired’.
3. They will further regulate trading platform whose servers are outside mainland but providing virtual currency trading services to domestic residents, and will continue to strengthen the clean-up [of] the fiat payment and settlement channels and gateways.
4. Investors should be careful not to mix blockchain technology with cryptocurrency, and there are multiple risks in cryptocurrency financing, issuance and trading (again, Blockchain not crypto).”
China is now releasing its crypto rankings every two months and plans to drop its next one in February.