Gemini to Use Nasdaq's Market Surveillance Technology

Latest development of NASDAQ is called SMARTS Market Surveillance, this technology is considered the most widespread system of trade monitoring in the world
26 April 2018   1059

Founded by the Winklewoss brothers, Gemini exchange announced a partnership with Nasdaq, within which will use the latest SMARTS Market Surveillance technology to track trading manipulations.

According to the official message, this technology is considered the most widespread system of trade monitoring in the world, and thanks to it Gemini will be able to track all its trading pairs, including BTC / USD, ETH / USD and BTC / ETH.

In addition, SMARTS Market Surveillance will help Gemini monitor activity during daily bitcoin-closing auctions, which determine the price of Bitcoin XBT futures contracts traded on the Chicago stock exchange of Cboe derivatives.

Since launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole. Our deployment of Nasdaq's SMARTS Market Surveillance will help ensure that Gemini is a rules-based marketplace for all market participants.

Tyler Winklevoss

CEO, Gemini

It should be noted that Gemini was the first major representative of the bitcoin industry, which decided to use a specialized solution to monitor the behavior of participants and determine suspicious activity.

US Crypto Companies to Support TON in Case With SEC

The Blockchain Association said Telegram taken sufficient measures to ensure that the Gram token offer met SEC requirements
23 January 2020   122

The Blockchain Association, which combines companies such as Coinbase, Circle, 0x and Ripple, issued an expert opinion as part of the ongoing proceedings of the US Securities and Exchange Commission (SEC) with Telegram.

Previously, the Digital Commerce Chamber launched a similar initiative. The blockchain association, however, was more straightforward and stated that Telegram had taken sufficient measures to ensure that the Gram token offer met SEC requirements. According to members of the organization, the actions of the SEC can damage not only Telegram, but the market as a whole.

The Court should not block a long-planned, highly anticipated product launch by interfering with a contract between sophisticated private parties. Doing so would needlessly harm the investors that securities laws were designed to protect.


The Blockchain Association

The Blockchain Association notes that for many years it has not been possible for SEC to obtain clear and unambiguous guidance for conducting activities in the cryptocurrency space, while the claims of the regulator make the current situation even more ambiguous. 

The SEC’s lawsuit also raises novel questions regarding whether companies are forbidden from raising funds from sophisticated U.S. investors, under well-established regulatory provisions, to build blockchain networks.


The Blockchain Association

They cite examples of startups TurnKey Jet and Pocketful of Quarters, in respect of which the regulator recommended not to apply legal measures, adding that such litigations inevitably involve high costs and do not guarantee industry participants that they will not be prosecuted in the future.

Telegram discussed its plans with SEC staff for a year and a half, provided copious information and responded to limited feedback by adjusting the design of its transaction. Yet, at the end, the SEC has sued, and the SEC’s briefs thus far say nothing about the substance of those discussions. 


The Blockchain Association

In conclusion, the group asks the court to “reject the SEC’s arguments that the not-yet-in-existence Grams were securities at the time of the Purchase Agreements.”