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Crypto Firms Unite to Form Market Integrity Coalition -Breaking

by Mike Robinson

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Cryptofirms Join forces to form a Market Integrity Coalition

On Tuesday, major cryptocurrency players joined together to form the Crypto Market Integrity Coalition. Solidus Labs, an independent crypto trading surveillance and risk monitoring company, initiated the coalition. It aims to improve safety and regulation in the cryptocurrency ecosystem.

This newly formed organization includes 17 founding members: Circle (NASDAQ:), Huobi Tech; Anchorage Digital; BitMEX Bitstamp and Solidus Labs.

The pledge stated that the group is focused on creating an equitable digital asset market by combating market abuses and manipulation in order to encourage public and regulatory confidence and support the emerging asset class.

“The market integrity pledge is focused on a commitment to continuously strive towards higher standards of market integrity, risk monitoring, consumer protection and compliance, in order to maintain fair and orderly digital asset markets and prevent market abuse,” outlined Asaf Meir, co-founder and chief executive of Solidus Labs.

Coalition members agreed to cooperate to promote the integrity of the digital asset market and improve its efficiency. This will also make crypto services more inclusive, transparent and productive for all users and participants.

Each of the parties has agreed to incorporate market efficiency and integrity into all their business operations.

The group invites all crypto industry members committed to advancing the market’s integrity to join the coalition.

Why you should care

The market structure that digital assets have created has allowed for new types of manipulation and market activity. Common market manipulation methods in crypto markets include pump and dump, wash trading and spoofing. Layering, front-running and layering are all common. The market is still developing and remains unregulated.

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