17 crypto companies form a market integrity coalition with the aim of strengthening a reasonably regulated industry -
17 crypto companies form a market integrity coalition with the aim of strengthening a reasonably regulated industry -
On February 7, 2022, a group of 17 digital asset companies announced that they founded an organization called Crypto Market Integrity Coalition (CMIC). The well -known companies include crypto companies such as Coinbase, Circle Internet Financial, Huobi Tech, Bitmex, Cryptocompare and Solidus Labs. The newly formed group says that the coalition is "committed to a safe and reasonably regulated crypto industry".
leading digital asset companies found a crypto market integrity coalition
17 crypto companies and organizations have the foundation of a representation of interest called the Crypto Market Integrity Coalition (cmic). The announcement of the coalition states that the newly founded organization aims to "cultivate a fair marketplace for digital assets" by combating market manipulation and abuse. The coalition plans to "promote public and regulatory trust in the new asset class".
CMIC consists of companies such as Solidus Labs, Coinbase, Circle Internet Financial, GSR, Huobi Tech, Anchorage Digital, Crosstower, Bitmex, Bitstamp, Securrency, Elwood Technologies, Cryptocompare, MV Index Solutions, Global Digital Finance, the Chamber of Digital Commerce, CryptoW and Liberty City Ventures. In addition, the group invites other members of the digital asset industry to join the CMIC.
"Due to the promise, the coalition would like to send an unmistakable message in this critical moment in the development of digital assets: The crypto industry has made enormous progress in improving market integrity in recent years," says CMIC announcement. "At the same time, crypto companies are very conscious and undertake to work with the supervisory authorities in order to develop solutions for the unique challenges of crypto."
CMIC principle: "Public trust and investor protection are increased by integrity"
The press release continues that the crypto-native risk management company Solidus Labs initiated the new coalition. The group explains that the coalition will initiate "training programs, the exchange of knowledge and research results, the dialogue with regulatory authorities and the consideration of framework for the joint use of data and the common surveillance" will initiate. Dante Dispafen, Chief Strategy Officer and Head of Global Policy at Circle, is convinced that "the promise of CMIC brings together management industrial actors to promote the standards of market integrity."
"The harmonization of a broad global approach for digital assets and the competition in the race for the digital currency area can improve competitiveness and security of the United States and reduce the basic costs for fundamental financial access," said Dispoven in a statement. CMIC has published one internet portal and Introductory video explains what the coalition is and what it is up to. The CMIC website calls for industry leaders to make the promise that consists of three principles:
- Industry can promote integrity by confirming its measures to prevent manipulation and misuse.
- The trust of the public and investor protection are strengthened by integrity.
- greater integrity brings responsibly growth of the cryptoma market.
What do you think about the recently founded CMIC and the goals of the organization? Let us know your opinion on this topic in the comment area below.
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