Patrick

Bitcoin

Security

Crypto exchange Bitvavo has signed an agreement with Nasdaq today to boost market abuse detection and analysis ahead of the implementation of the Markets in Crypto-Assets Regulation (MiCA) in the European Union. The exchange commits to improving security, trust, and stability amid the paradigm shift in crypto adoption globally.
<h2 id="bitvavo-to-use-nasdaq-market-surveillance">Bitvavo To Use Nasdaq Market Surveillance</h2>
The largest cryptocurrency Euro spot exchange globally Bitvavo and <a rel="noopener noreferrer nofollow" href="https://www.globenewswire.com/news-release/2024/07/31/2921590/6948/en/Bitvavo-Adopts-Nasdaq-Market-Surveillance-to-Enhance-Integrity-of-its-Digital-Asset-Exchange.html" target="_blank">Nasdaq</a> have entered into an agreement to use the Market Surveillance technology across the crypto exchange, as per an announcement on July 31. The exchange seeks to further boost the trust, transparency, and integrity of its marketplace ahead of MiCA implementation.
Amsterdam, the Netherlands-headquartered <a href="https://coingape.com/cryptocurrency-exchanges/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange</a> Bitvavo aims to bolster market abuse detection through detailed trading insights, order book replay with a consolidated audit trail, and analyze suspicious activity through alerts. The Nasdaq Market Surveillance will help the exchange in producing detailed reports to share with regulators.
“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,” said Jeetan Patel, Chief Risk Officer at Bitvavo.
Also Read: <a href="https://coingape.com/fidelity-launches-bitcoin-etp-on-london-stock-exchange/" target="_blank" rel="noopener noreferrer nofollow">Fidelity Launches Bitcoin ETP On London Stock Exchange</a>
<h2 id="compliance-with-mica">Compliance With MiCA</h2>
The technology will also help Bitvavo to support early compliance with the EU’s Markets in Crypto-Assets Regulation (MiCA). The new legal framework will support digital asset market by regulating crypto asset trading and ensuring consumer protection. Also, it places strict rules and requirements on crypto exchanges to detect and report potential market abuse.
Tony Sio, Head of Regulatory Strategy and Innovation at Nasdaq, said: “Our market surveillance technology can play a powerful role in enhancing the integrity of digital asset exchanges, helping to deliver many of the objectives of the incoming MiCA regulation.”
At the recent EthCC event, Circle’s policy head, Patrick Hensen, outlined the transformative impact <a href="https://coingape.com/mica-regulation-circle-exec-reveals-how-this-eu-law-impacts-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">MiCA</a> could have on the industry.
Also Read: <a title="Binance Announces Listing Of These Trending Crypto Ahead Market Recovery" href="https://coingape.com/binance-announces-listing-these-trending-crypto-market-recovery/" target="_blank" rel="noopener noreferrer nofollow">Binance Announces Listing Of These Trending Crypto Ahead Market Recovery</a>
The post <a href="https://coingape.com/bitvavo-taps-nasdaq-to-bolster-security-ahead-mica-implementation/" rel="noopener noreferrer nofollow">Just-In: Bitvavo Taps Nasdaq To Bolster Security Ahead MiCA Implementation</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Just-In: Bitvavo Taps Nasdaq To Bolster Security Ahead MiCA Implementation

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