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Author Topic: Gemini to Fight Criminal Activity With Nasdaq Technology  (Read 15 times)
cryptobroseph
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April 27, 2018, 02:07:53 AM
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In Nasdaq’s own words, the SMARTS technology ‘automates the detection, investigation and analysis of potentially abusive or disorderly trading’ allowing for administrative staff to shut down and report any malicious behavior. It is widely used on stock and Forex trading platforms and is trusted on an industry level. It can be used to discover market manipulations, some forms of money laundering, and various other criminal activities.

In a statement, Cameron Winklevoss, one of the founders of Gemini, wrote that ‘adding trade surveillance technology is the most recent development in our efforts to build a rules-based marketplace.’ While many other exchanges such as Binance and Coinbase have been focusing on growing their platforms and providing more coins to trade, Gemini has been working hard to refine theirs and make their trading pairs as robust and futureproof as possible. This is another step towards Gemini becoming a ‘market leader in custom surveillance rule creation and alerting for the crypto-asset market.’

A focus on surveillance in regards to cryptocurrency is necessary if the industry wants to be taken seriously by Wall Street— many financial news outlets still regularly publish content which conveys Bitcoin as synonymous with criminal behavior. The decision to work with Nasdaq to remove this title reveals to the public just how seriously exchanges like Gemini take illegal activity and gently reminds the public that cryptocurrency’s underlying value does not come from criminal activity but rather from its immutability and its decentralisation.

Originally Published at cryptodisrupt.com

Do you feel that this partnership is positive for crypto?
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April 27, 2018, 05:39:37 AM
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 I think this is a great partnership!  People should be happy about these type of moves. Everyone is waiting for the perfect mix of regulation and decentralization  Roll Eyes
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