The alliance comes as regulators remain concerned about market safety for investors, explains moneytimes.com. The Crypto Market Integrity Coalition, led by risk monitoring software company Solidus Labs, is also calling on companies to sign a market integrity pledge that recognises the potential for fraud in the cryptocurrency space and the industry's need to protect investors.
The Securities and Exchange Commission (SEC) has cited the potential for market manipulation as one of the main reasons for rejecting applications for exchange-traded bitcoin funds. While this initiative is an acknowledgement of the potential for fraud in the crypto space, it remains unclear how the decentralised financial sector can regulate bad actors.
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