Nasdaq Says It Can Stop Cryptocurrency Market Manipulation


Total News – Atlanta, GA 11/02/2018. NASDAQ, the second largest stock exchange in the world says that their surveillance technology will help eradicate manipulation and other scams flooding the cryptocurrency market.

Bloomberg reported that in a paper released on Thursday, Nasdaq said that it has spent decades developing tools to police securities, currencies and other markets.

"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," the paper states.

Nasdaq already applies its market-surveillance technology to Gemini, a cryptocurrency exchange founded by the Winklevoss twins. Nasdaq said previously that they provide surveillance, trading and clearing services to other cryptocurrency exchanges but did not identify them.

In an interview with Bloomberg, Tony Sio, head of exchange and regulatory surveillance said:

"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,"

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