Featured
Nasdaq Wants Crypto Market to Stamp Out Fraud — With Its Help

The cryptocurrency industry is plagued by scandal. Stock exchange operator Nasdaq Inc. says it can solve the problem.
In a paper released Thursday, the company said it has spent decades developing tools to police securities, currencies and other markets, and can use them to stamp out manipulation and other scams besieging digital coins.
“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,” according to the paper.
Authorities worry that virtual currencies are susceptible to frauds that take advantage quick price swings and a lack of government regulation. In May, Bloomberg reported that the Justice Department had opened a criminal probe into possible manipulation of Bitcoin trading.
Nasdaq licenses its market-surveillance technology to exchanges, including at least one crypto market: Gemini, which was founded by the Winklevoss twins. Nasdaq first started to get approached about these services from crypto companies just over two years ago, but it wasn’t until late last year when Bitcoin was surging that demand jumped.
“We’re now getting approached every week or two,” Tony Sio, Nasdaq’s head of exchange and regulator surveillance, said in an interview. “We won’t work with all of these firms though since a lot of them are quite early stage or not reputable yet,” he added.
-
OER Magazines1 month ago
OER, July 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, July 25
-
Digital2 months ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
News1 month ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Banking & Finance2 months ago
Sohar International Partners as Main Sponsor for Refill 3, a Culinary and Cultural Festival Driving Tourism in Khareef Dhofar
-
Banking & Finance2 months ago
Tender results of Government Treasury Bills worth RO21.7 million issued
-
Energy1 month ago
SOHAR Port and Freezone Signs MoU to Develop Natural Hydrogen Value Chain in Oman
-
Economy1 month ago
Najla Zuhair Al Jamali Appointed President of bp Oman
You must be logged in to post a comment Login