A number of major cryptocurrency firms have teamed up to form an alliance that seeks to address market integrity issues hounding the industry.
- Dubbed as the Crypto Market Integrity Coalition, the group includes Anchorage Digital, Circle, Coinbase, and Huobi Global. It was convened by risk-monitoring software provider Solidus Labs.
- Other founding members include BitMex, Bitstamp, CrossTower, CryptoCompare, CryptoUK, Elwood, Global Digital Finance, GSR, MV Index, Securrency, and the Chamber of Digital Commerce.
- The coalition is also pushing for digital currency firms to be signatories to a “market integrity” commitment, which recognizes the possibility of fraudulent activities in the space and the need for investor protection.
- Solidus Labs Vice President of Regulatory Affairs Kathy Kraninger said the coalition is in line with the acknowledgment that firms need to be focused on efficient systems which deter abuses.
CMIC also targets to involve regulators, promote training programs, and endorse data-sharing structures moving forward.
BTC is up 2.57%, ETH up 2.21%, and XRP up 15.52%.