2024

Security

Bitvavo, Europe’s largest crypto Euro spot exchange, has announced a strategic partnership with Nasdaq to integrate Nasdaq’s advanced Market Surveillance technology into its platform. This collaboration marks a significant step for Bitvavo in enhancing the security and transparency of its marketplace, aligning with the rapid growth and evolving demands of the digital asset space. 
The integration of Nasdaq’s Market Surveillance technology will equip Bitvavo with advanced tools to detect and address market abuse. This includes detailed trading insights, comprehensive visualizations, and a consolidated audit trail that spans various asset classes.&nbsp; 
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 Bitvavo 🤝&nbsp;Nasdaq We are taking a leap forward in ensuring a secure trading environment by adopting Nasdaq Market Surveillance. This advanced system will help detect and investigate any market abuse while making us fully compliant with the upcoming EU Markets in Crypto Assets… <a href="https://t.co/XYRU63Hs3y" target="_blank">pic.twitter.com/XYRU63Hs3y</a>— Bitvavo (@bitvavocom) <a href="https://twitter.com/bitvavocom/status/1818613969097031682?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 31, 2024</a>
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The platform will enhance Bitvavo’s ability to identify suspicious activities through a range of alerts and optimize its case management with Nasdaq’s sophisticated event analysis and reporting framework.&nbsp; 
Jeetan Patel, Chief Risk Officer at Bitvavo, <a href="https://bitvavo.com/en/blog/nasdaq-market-surveillance-integration" target="_blank" rel="noreferrer noopener">highlighted</a> the importance of this partnership, stating, “Partnering with Nasdaq allows us to leverage their proven expertise to effectively detect, monitor, and mitigate market abuse risks, enhance operational efficiency, and provide a more secure and stable trading environment for our clients.” 
This move also aligns with the EU’s upcoming Markets in Crypto-Assets Regulation (MiCA), which aims to introduce uniform market rules for digital assets. MiCA is designed to bolster market integrity and protect consumers by imposing stringent requirements on exchanges to detect and report market abuse.&nbsp; 
Founded in Amsterdam in 2018, Bitvavo has rapidly grown to become a leading European cryptocurrency trading platform, boasting over 1.5 million users. The exchange provides a user-friendly platform where clients can trade and store more than 300 digital assets at competitive rates.&nbsp; 
Tony Sio, Head of Regulatory Strategy and Innovation at Nasdaq, <a href="https://www.nasdaq.com/press-release/bitvavo-adopts-nasdaq-market-surveillance-enhance-integrity-its-digital-asset-0" target="_blank" rel="noreferrer noopener">emphasized</a> the significance of the partnership, noting, “Nasdaq’s industrial grade technology simplifies the complex challenges associated with regulatory compliance and we welcome the opportunity to partner with Bitvavo to support the development of its marketplace.” 
With over 30 years of experience and serving more than 45 exchanges and 15 international regulators, Nasdaq’s market surveillance technology stands as a global benchmark for maintaining marketplace integrity. This collaboration not only fortifies Bitvavo’s operational framework but also contributes to the broader goal of achieving a secure and transparent digital asset market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/31/indias-bwa-to-address-cyber-consumer-woes-post-wazirx-hack/" target="_blank" rel="noreferrer noopener">India’s Blockchain Association takes note of Consumer Woes Post-WazirX Hack</a> 
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Bitvavo Leverages Nasdaq Surveillance for Enhanced Security

The Crypto Times

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