Cryptocurrency firms launch a coalition to promote market integrity

Tuesday 8 February 2022 12:21 CET | News

A group of major cryptocurrency companies, including Coinbase, Circle, Anchorage and Huobi, have formed a coalition to decrease market manipulation to boost confidence in the digital asset industry.

The alliance comes as regulators remain concerned about market safety for investors, explains 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.

The coalition also includes CrossTower, BitMex, GSR, Bitstamp, Elwood, CryptoCompare, Securrency, MV Index Solutions, Chamber of Digital Commerce, Global Digital Finance and CryptoUK.

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Keywords: regulation, cryptocurrency, cryptocurrency exchange, blockchain
Categories: DeFi & Crypto & Web3
Companies: Circle, Coinbase, Huobi
Countries: World
This article is part of category

DeFi & Crypto & Web3






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