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Blockchain Association launches Market Integrity Working Group for cryptocurrency transparency

Tue, 28 Jan 2020, 11:30 am UTC

The Blockchain Association announced in a blog on Medium that they just launched the Market Integrity Working Group to ensure “transparency and fairness” in the crypto space.

The Market Integrity Working Group is created “to support the development of public policy that ensures the transparency and fairness of cryptocurrency markets.”

Breanne Madigan, Head of Global Institutional Markets at Ripple, and Rachel Nelson, Senior Director, Associate General Counsel — Regulatory at Coinbase will serve as the working group’s co-chairs. Its mission is “to provide clarity to the blockchain and cryptocurrency industry.”

Also, the working group aims to improve market integrity and boost consumer confidence. Currently, crypto exchanges are required to go through state-by-state regulatory frameworks in order to operate across the United States.

"This convoluted and inefficient process creates significant barriers to entry for new exchanges, a complicated compliance burden for existing exchange, inhibits uniform regulation of digital commodity exchanges, and complicates consumers’ ability to understand the oversight of the exchanges they choose to use,” the Blockchain Association said.

“Consumers and cryptocurrency exchanges deserve a clear regulatory framework, the establishment of which would ultimately enhance market integrity and drive consumer adoption of cryptocurrencies.”

Meanwhile, Crypto Rating Council, an organization launched last October to help traders comply with the U.S. securities laws, welcomed eToro, Radar and OKCoin as its new members.

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