The Crypto Market Integrity Coalition is a new group that several familiar names in the cryptocurrency world have established this month. The alliance’s initiative involves cooperating with government bodies functioning as regulators, such as the United States Securities and Exchange Commission.
We think it is a relief for cryptocurrency enthusiasts to learn about this news regarding the formation of the Crypto Market Integrity Coalition. We understand that this new virtual currency organization will serve as a bridge, enabling skeptical regulators to comprehend the cryptocurrency industry’s significance in today’s evolving finance scene.
According to the update posted online by The Netherlands-based news outlet The Paypers, which delivers reports and analysis on the international financial technology, e-commerce, and payments industries, the new Crypto Market Integrity Coalition is composed of 17 major cryptocurrency companies.
It includes Anchorage Digital, BitMex, Bitstamp, Chamber of Digital Commerce, Circle Internet Financial, Coinbase, CrossTower, CryptoCompare, and CryptoUK.
Additionally, the Crypto Market Integrity Coalition comprises Elwood Technologies, Global Digital Finance, GSR, Huobi Tech, Liberty City Ventures, MV Index Solutions, Solidus Labs, and Securrency.
In a statement, the new group affirmed that their launch is an industry-defining pledge concentrating on cultivating a just virtual asset marketplace. The Crypto Market Integrity Coalition’s members relayed that they intend to combat market manipulation and abuse and promote regulatory and public confidence in cryptocurrencies being a fledgling investment asset class.
This new cryptocurrency organization also cited that it would hire more virtual asset players to make the commitment. The Crypto Market Integrity Coalition relayed that it would perform further measures, such as convening with regulators, sharing research and insights, and conducting advanced training programs.
Asaf Meir is the chief executive officer and co-founder of Solidus Labs, which is among the member groups of the Crypto Market Integrity Coalition. He said that regulators and the public had made their concerns lucid.
Meir pointed out that the initial goal of their coalition’s pledge is to bring action and harmony at an industry level across decentralized and centralized finance and all virtual assets. We think the Crypto Market Integrity Coalition’s recent establishment is timely.
After all, cryptocurrency aficionados and supporters, individuals and institutions alike, have been troubled by obstacles placed by regulators in recent years. We think the Crypto Market Integrity Coalition will be able to make matters smooth for both virtual currency supporters and regulators.
We understand that this new alliance is mindful of regulators’ market safety worries for investors. With its formation, we believe the Crypto Market Integrity Coalition will be able to address this matter as well as the problems of potential fraud and market manipulation in the rising cryptocurrency industry in the coming years.
Hence, we think market integrity will be promoted in the digital asset space. We also believe the Crypto Market Integrity Coalition will help boost confidence in cryptocurrencies, advancing them as a legitimate and promising investment asset class.