Gemini expands supervision of cryptocurrency trading with Nasdaq’s Technology

0
190

New York –Gemini Trust Company announced Wednesday that it will be increasing its oversight of its cryptocurrency trading with Nasdaq Inc’s market surveillance technology to uncover fraudulent trades and detect market manipulation.

Gemini is owned and managed by digital currency entrepreneurs Cameron and Tyler Winklevoss.

Nasdaq’s surveillance system named SMARTS Market Surveillance will allow Gemini to supervise all its trading pairs, such as: bitcoin/US dollar, ether/dollar, and bitcoin/ether.

Additionally, the system will manage activity throughout the Gemini auction process used to establish the price for the bitcoin/XBT futures contracts.

Governments around the world are currently in talks on how to regulate cryptocurrency trading, a market that is said to be vulnerable and susceptible to risks such as money laundering.

New York Attorney General Eric Schneiderman launched an investigation on 13 cryptocurrency trading platforms, including Gemini Trust, last week. The investigation sought information the operations and safety measures these platforms has in place to protect customer accounts.

Bitcoin’s prices went up to a six-week high on Tuesday after news of the possible entry of major cryptocurrency institutions into the cryptocurrency market erupted.

Bitcoin suffered a brutal 50% loss in the first quarter of the year, after almost peaking at 1,400% in 2017.

LEAVE A REPLY

Please enter your comment!
Please enter your name here