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Nasdaq to curb the Crypto market manipulation

Pooja
Pooja

One of the popular stock exchange Nasdaq claims that it can stop crypto market manipulation and help to bring a sustainable environment for crypto trading. In fact, most of the cryptocurrency exchanges are planning to leverage surveillance technology which will protect them against any type fraudulent activities.

Given the background of Nasdaq in stocks and trading platform, the company is pretty confident in combating various market manipulation which crypto sector is currently undergoing. As per a report published by the company on Nov 1,

Regulators, brokers and exchanges have surveillance teams that monitor activity constantly and advanced technologies to help capture and analyze abusive behaviors including pump-and-dump schemes, insider trading, wash trading as well as spoofing and layering.

Time and again digital currency analysts have cited that the lack of strict regulations is the root cause behind an unstable crypto market. Indeed there was criminal case registered in the US for possible manipulation of Bitcoin trading.

Reportedly, the stock exchange platform owns licensed market surveillance technology which is been used by several companies in crypto space. Companies like Gemini, SBI Virtual Currencies, and three other platforms were already using Nasdaq’s SMARTS technology. With more developments in the cryptocurrency trading space, the company appears to be in high demand.

As quoted by the Tony Sio, head of exchange and regulatory surveillance at the exchange operator,

We’re now getting approached every week or two. We won’t work with all of these firms though since a lot of them are quite early stage or not reputable yet.

Crypto Adoption by Nasdaq

Well, the good news is that after a long haul, Nasdaq is embracing crypto. Although there have been instances when the company went bullish over a few aspects of digital currencies, things seem to improve now.

Also, there are plans for launching a company’s own cryptocurrency exchange platform but expects proper statutory laws governing the crypto industry.

Is it possible for company to eventually improve the market condition of cryptocurrency? Share your thoughts below.

Bitcoinnasdaqstock

Pooja

Lead writer at Wolfcone.com and avid reader. My interests lie in everything and anything related to technology. I firmly believe cryptocurrency has the power to revolutionize world economy and blockc