Nasdaq Inc has come up with a solution that can solve problems in the scandal-plagued crypto-currency industry.
The paper released on Thursday indicated that the company said it spent decades developing tools to monitor securities, currencies and other markets. Now, these tools can be used in helping eradicate manipulation and scams in the crypto-currency industry.
“Regulators, brokers, and exchanges have surveillance teams that monitor activity constantly and advanced technologies to help capture and analyze abusive behaviors including pump-and-dump schemes, insider trading, wash trading as well as spoofing and layering,” according to the paper.
This market surveillance technology is licensed to exchanges, including the crypto market: Gemini, founded by the Winklevoss twins. Nasdaq was approached to for these technologies by crypto companies two years ago, Bitcoin’s surge late last year just increased the demand exponentially.