American stock market giant Nasdaq plans to solve some of the problems of the cryptocurrency market, such as fraud and manipulation, using his experience trading in the traditional financial market.
Paradise for fraudsters?
Often crypto-skeptics point to the lack of regulation in the cryptocurrency environment, which immediately makes it attractive to unscrupulous dealers. Right now the U.S. Department of justice in conjunction with the Commission on commodity futures trading (CFTC) is examining the allegations of manipulation in the market of bitcoin.
Solution from Nasdaq — SMARTS
According to the Nasdaq, some of the major players in the cryptocurrency arena for use of the company technology monitoring market. In the number of users of SMARTS already part of the cryptocurrency and the Gemini exchange SBI Virtual Currencies.
Tony SIO, head of the exchange and regulatory surveillance Department, declared:
“Contact us every week or two. We will work with all of these firms because many of them are in the early stages of development and have not enough reputation”.
With the beginning of 2018, the Nasdaq is showing greater interest in the cryptocurrency sphere. The company’s CEO, adena Friedman, repeatedly spoke optimistically about a new asset class, noting the need for more careful regulation of this sector.