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NEW YORK-(BUSINESS WIRE)–The Crypto Market Integrity Coalition (“CMIC”), an industry-defining commitment focused on cultivating safer digital asset markets, today announces the addition of 8 notable new signatories. CMIC’s growth highlights the crypto industry’s commitment to advancing market integrity in the digital asset space. New pledge signatories include:
Bittrex, founded in 2014 by three cybersecurity engineers, is one of the leading US-based cryptocurrency exchanges. With an emphasis on industry-leading trust and security, Bittrex’s premier trading platform offers a huge selection of digital asset listings while maintaining lightning-fast transaction speeds and multiple layers of protection. Bittrex’s mission is to help advance the blockchain industry by fostering innovation, incubating new and emerging technologies, and driving transformative change. Bittrex is a FinCEN-registered Money Services Business and is committed to complying with all applicable US regulations that help prevent, detect, and correct illegal behavior by virtual currency customers and developers when using the Bittrex trading platform or one of the company’s other services.
BitGo, founded in 2013, provides the most secure and scalable solutions for the digital asset economy, offering regulated custody, borrowing and lending, and core infrastructure to institutions, investors, and developers. BitGo pioneered the multi-signature wallet and later built TSS to enhance other companies’ MPC offerings to eliminate single points of failure to keep digital assets safe and secure. In 2018, BitGo launched BitGo Trust Company which provides qualified and fully regulated cold storage and also adheres to the Cryptocurrency Security Standard (CCSS), a standardized set of requirements that ensures the highest standards of compliance. Active in centralized and decentralized finance, BitGo also offers institutional-grade DeFi, staking and NFT wallet services. Today, BitGo provides the operational backbone to over 1,500 institutional clients in over 50 countries – a list that includes many of the world’s top cryptocurrency exchanges and platforms. BitGo also processes around 20% of all global Bitcoin transactions by value.
Oasis Pro Markets, founded by seasoned Wall Street and blockchain veterans, is a leading fintech and blockchain company whose mission is to connect the worlds of traditional finance, blockchain and decentralized finance, “DeFi”. Oasis Pro’s subsidiary, Oasis Pro Markets, is a FINRA member firm that operates a Multi-Asset ATS (“OATSPRO”) to enable primary issuance and trading of public and private multi-asset digital securities as well as a full-service investment bank.
Crystal Blockchain is a blockchain data analytics platform that powers the analysis and monitoring of cryptocurrency transactions on the blockchain, bringing best-in-class AML compliance and risk management solutions to crypto service providers, law enforcement and financial institutions. It is an investigative tool that analyzes and monitors 98% of all blockchain transactions up to 100,000 hops. They strive to create transparency within the crypto and blockchain industry using their investigative product solutions. Crystal Blockchain provides services to businesses, government organizations, legal agencies, banks and other financial institutions.
FinClusive is a hybrid regtech/fintech company that connects traditional banking with the power of blockchain-enabled payments and virtual asset networks, through its integrated financial crime compliance and anti-money laundering application ( FCC/AML) – compliance as a service (CaaS). CaaS is a comprehensive AML orchestration layer integrating best-in-class vendors covering global know-your-customer/know-your-business (KYC/KYB), monitoring and control of watchlists and sanctions, monitoring and transaction analysis, and the provision of digital services. Verifiable Identity Identifiers and Legal Entity Identifiers (LEIs) – designed for traditional, Defi and web-based financial services. FinClusive goes a step further by integrating its CaaS engine between blockchain and Defi payment rails with US banking and payments enabling a global standard utility for FCC/AML across different financial and payment networks and service providers.
Merkle Science is the next generation Web3 platform for risk mitigation, compliance and investigation. Merkle Science works with crypto and DeFi companies, blockchain bridges, NFT players, retailers, financial institutions, insurers, and government agencies around the world.
Tokenomy is a licensed digital asset platform that offers a wide range of crypto-based financial services such as fixed deposit, staking, dual currency deposit, lending, custody and spot trading and on derivatives.
VAF Compliance is an investigative services provider that creates individualized investigative reports for their clients in the digital asset servicing space, facilitating meaningful relationships between their clients and banking partners.
CMIC, launched in February 2022 by 17 co-founding exchanges, companies and industry associations, provides a unified voice for the crypto industry’s commitment to continuously improving market integrity and collaboration with regulators. The coalition takes initiatives that promote market integrity, address gaps identified by its signatories, and strengthen engagement with regulators. Currently, CMIC is developing market integrity training specifically tailored to the unique characteristics of digital asset markets and the challenges compliance professionals face in countering manipulation in these markets. In July, CMIC members met with SEC Commissioner Hester Peirce and CFTC Commissioner Caroline Pham for a panel discussion on what responsible market participants can do to improve market integrity in asset markets. what are the biggest risks to the growth of the industry and how the industry can work with regulators to mitigate those risks.
“As one of the premier cryptocurrency exchanges, Bittrex has long prioritized security and trust for our users,” said Michael Carter, Chief Compliance Officer at Bittrex. “CMIC’s ongoing work aligns closely with this goal, which is why we are excited to join the organization in enabling a safe and regulated ecosystem for digital assets. We look forward to working with the other members of the coalition on collective educational efforts and sharing ideas that will contribute to the continued evolution of the industry.
“We are seeing a growing appetite from institutional investors to actively participate in the growing digital asset economy, and regulatory clarity will address concerns arising from uncertainty. We continue to welcome discussions with policy makers on how to encourage innovation while protecting investors. and businesses,” said Jeff Horowitz, Chief Compliance Officer of BitGo.
“We are thrilled to see industry support for CMIC, as leading crypto firms continue to sign the pledge to maintain the highest standards of compliance and risk mitigation,” said Asaf Meir, co-founder and CEO of crypto risk monitoring firm Solidus Labs. who initiated the CMIC. “Now more than ever, it is clear that the potential of crypto depends on the ability to mitigate its new risks and provide demonstrable market integrity – and we look forward to continuing – and accelerating – our joint effort to do so. advancing safe and regulated cryptography.”
For more information on CMIC and to sign the pledge, please visit: www.cryptomarketintegrity.com
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Crypto Market Integrity Coalition Welcomes Eight New Members, Including Bittrex And BitGo
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