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.
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, November 24
-
OER Magazines1 month ago
OER Magazine: December 2024 Edition – The Most Trusted Brands in Oman
-
Energy2 months ago
Oman and Belgium Strengthen Green Hydrogen Partnership with New Landmark Agreement
-
Energy2 months ago
OUTLOOK: Emerging Markets and Renewables – The Twin Engines of Energy Growth for 2025
-
Technology1 month ago
EXCLUSIVE: Technological Singularity – Will It Become Humanity’s Greatest Leap or Its Most Perilous Step?
-
Magazines2 months ago
OER Magazine: November 2024 Edition
-
Oman2 months ago
Oman Braces for Launch of First Experimental Rocket Duqm-1 on 4 December 2024
-
Oman2 months ago
Transport Ministry Issues New Regulation for Security of Ships, Ports
You must be logged in to post a comment Login