Crypto companies form alliance to crack down on market manipulation

The Crypto Market Integrity Coalition asks the entities that make up the alliance to sign a “market integrity” commitment (Credit: Reproduction/Pixabay)

Coinbase, Circle, Anchorage Digital and Huobi Global are just a few of the companies joining an alliance to clamp down on market manipulation and spur confidence in the growing digital asset industry.

The Crypto Market Integrity Coalition, convened by Solidus Labs, calls on the entities that make up the alliance to sign a “market integrity” pledge, which recognizes the existence of the potential for fraud in the cryptocurrency space and the industry’s need to protect investors. .

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“It’s about recognizing that you need entities focused on a fair and orderly system in this arena, and trying to avoid the abuses that can happen if you’re not careful,” said Kathy Kraninger, vice president of regulatory affairs at Solidus Labs and former – director of the Consumer Financial Protection Bureau.

This alliance arises from the regulators’ concern with the security of this new market for investors, although it is not yet known in concrete how the decentralized financial sector can repress this market manipulation.

“Integrity is critical to our industry’s progress and ability to continue to innovate and build an infrastructure that delivers on the promise of access to financial resources for all,” said Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle.

The alliance’s other founding members include CrossTower, BitMex, GSR, Bitstamp, Elwood, CryptoCompare, Securrency, MV Index Solutions, Chamber of Digital Commerce, Global Digital Finance and CryptoUK.