A group of crypto companies such as Circle, Anchorage Digital, and Huobi Global formed the Crypto Market Integrity Coalition to curb manipulations in the industry and build trust in the digital asset industry.
The Crypto Market Integrity Coalition, led by risk-monitoring firm Solidus Labs, argues that the industry should strive to protect investors by encouraging crypto companies to sign a commitment to market integrity.
Solidus Labs Vice President Kathy Kraninger said:
“We must recognize that there is a need for institutions focused on establishing a fair and orderly system, only in this way irregularities that may go unnoticed can be prevented.”
Concerns About Transparency In The Crypto Market Will Work To Alleviate
In the first place, the aim of the coalition is for more members to sign this commitment. In the future, it is expected to contact regulatory bodies and try to address concerns about transparency in the cryptocurrency market.
While the newly formed alliance and commitment acknowledges the potential for fraud in the crypto market, it remains a question mark in the decentralized financial sector what it can do to thwart the malicious.
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