{"id":88382,"date":"2024-07-31T10:51:27","date_gmt":"2024-07-31T14:51:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=88382"},"modified":"2024-07-31T10:54:22","modified_gmt":"2024-07-31T14:54:22","slug":"bitvavo-adds-nasdaqs-surveillance-tool-to-detect-market-abuse","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitvavo-adds-nasdaqs-surveillance-tool-to-detect-market-abuse\/","title":{"rendered":"Bitvavo Adds Nasdaq\u2019s Surveillance Tool to Detect Market Abuse"},"content":{"rendered":"\n

Bitvavo, a Dutch cryptocurrency exchange<\/a>, has teamed up with Nasdaq to keep an eye on the markets for indications of illicit behavior.\u00a0<\/p>\n\n\n\n

\"Bitvavo
Bitvavo Adds Nasdaq\u2019s Surveillance Tool to Detect Market Abuse<\/figcaption><\/figure>\n\n\n\n

In a news release issued today, July 31, the EU-regulated cryptocurrency exchange Bitvavo stated that it will employ the Nasdaq Market Surveillance tool to look into and identify “suspected market abuse.” <\/p>\n\n\n\n

The agreement states that the cryptocurrency exchange with its headquarters in Amsterdam will analyze “suspicious activity through a wide range of alerts,” “replay its order book” with a “consolidated audit trail” across different listed assets, and obtain trading insights and visualizations.<\/p>\n\n\n\n

Additionally, the exchange intends to use the tool to generate reports it will send to the appropriate regulators. <\/p>\n\n\n\n

Tony Sio, head of regulatory strategy and innovation at Nasdaq, commented on the agreement and said that the cryptocurrency market <\/a>has “significant challenges” compared to traditional markets regarding investor protection and market confidence. Additionally, Sio cited regional EU laws when he said:\u00a0<\/p>\n\n\n\n

\n

“Our market surveillance technology can play a powerful role enhancing the integrity of digital asset exchanges, helping to deliver many of the objectives of the incoming MiCA regulation.”<\/p>\n<\/blockquote>\n\n\n\n

It is clear from the press release that the partnership seeks to address these issues and comply with the EU's recently enacted Markets in Crypto-Assets Regulation\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, or MiCA, which places “strict rules and requirements” on cryptocurrency exchanges for identifying and disclosing market abuse. <\/p>\n\n\n\n

These requirements are comparable to those for traditional financial markets. The Dutch Central Bank has granted Bitvavo a regulatory license to operate as a provider of digital asset services. <\/p>\n\n\n\n

Bitvavo was founded in 2018 by Jelle de Boer and Tim Baardse. Bitvavo disclosed in December 2022 that about \u20ac280 million of its funds were held by Digital Currency Group<\/a>, the parent company of Grayscale, Foundry, and Lun, which became embroiled in legal issues after the collapse of FTX. <\/p>\n\n\n\n

After settling with the American cryptocurrency company, the exchange stated that it anticipates receiving at least 80% of the monies trapped from DCG.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitvavo, a Dutch cryptocurrency exchange, has teamed up with Nasdaq to keep an eye on the markets for indications of illicit behavior.\u00a0 In a news release issued today, July 31, the EU-regulated cryptocurrency exchange Bitvavo stated that it will employ the Nasdaq Market Surveillance tool to look into and identify “suspected market abuse.” The agreement […]<\/p>\n","protected":false},"author":43,"featured_media":88383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11407],"tags":[12731,1406,592],"class_list":["post-88382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-exchange","tag-bitvavo","tag-crypto-exchange","tag-nasdaq"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/croc_1722433609814-1.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=88382"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/88383"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=88382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=88382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=88382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}