With the non-profit stablecoin rating agency Bluechip off to the races, so too are concerns around how legit its rankings are.

After all, how has BUSD, a stablecoin that the New York State Department of Financial Services (NYDFS) recently halted, earned the top ranking, while USDT, the market’s largest stablecoin by market cap, is at the bottom of the barrel?

It all boils down to something called SMIDGE, the six qualities that Bluechip measures: Stability, management, implementation decentralization, governance, and externals.

So, no, regulatory crackdown in one form or another isn’t a metric. That’s because that’s not its job, Bluechip’s chief economist Garett Jones tells Decrypt.

“We decided that our job is not to carry water for go

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Author: Liam J. Kelly

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