Morningstar Japan K.K announced the launch of ratings services on cryptocurrencies and ICO. Bitcoin, the world's largest digital currency, and other cryptocurrencies are gaining momentum as their prices hit record high in 2017. ICO activities are being carried out around the world, and many new cryptocurrencies are added to the market. ICO is a new way of raising money by creating tokens and selling them to investors. It is similar to IPO, however cryptocurrencies are traded in the more anonymous environment, and investors are not enough protected with lack of cryptocurrency regulations. In addition, given that not sufficient information is provided, investors cannot make a rational investment decision. This is the first ever ICO ratings service in Japan. Moreover, by December 2017, Morningstar will launch a portal that provides the cryptocurrency news and exchange comparison as well as ratings information.