“Regulators, brokers, and exchanges have surveillance teams that monitor activity constantly and advanced technologies to help capture and analyze abusive behaviours including pump-and-dump schemes, insider trading, wash trading as well as spoofing and layering.”As reported by Bitcoinist, many critics of digital currencies are fast to point out that there is a lack of sturdy regulations in the industry as an incentive or all kinds of illegal trading practices. In the US, the Justice Department in conjunction with the CFTC began investigating different allegations of manipulation of price in terms of Bitcoin. According to Nasdaq, some significant players in the crypto trading space are already using its market surveillance technology. During the midpoint of this year, reports emerged saying that Gemini, SBI Virtual Currencies and three other platforms were already using Nasdaq’s SMARTS technology with further developments in the trading space. With all this, the firm seems to be in somewhat of a high demand. Tony Sio, the head of the exchange’s regulatory surveillance spoke out on the matter and 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 an early stage or not reputable yet.”For the exchange, since the start of 2018, this has been the case of moving from tentative to more concrete involvement in the upcoming virtual currency industry. Adena Freidman, the CEO, has showed her bullish sentiments in the past regarding the prospects of digital currency whilst also reiterating the need for more robust regulations. What are your thoughts? Let us know what you think down below in the comments!