NEW YORK–(BUSINESS WIRE)–The Crypto Market Integrity Coalition (“CMIC”), an industry-defining pledge focused on cultivating safer digital asset markets, today announces the addition of 8 new notable signatories. The growth of CMIC demonstrates the crypto industry’s commitment to promoting market integrity in the digital asset space. New signatories to the pledge include:
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Founded in 2014 by three cybersecurity engineers, Bittrex is a leading US-based cryptocurrency exchange. With a focus on trust and industry-leading security, Bittrex’s premier trading platform offers an expansive 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 conduct by customers and virtual currency developers when using the Bittrex trading platform or any of the company’s other services.
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BitGo, founded in 2013, offers 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 improve other companies’ MPC offerings to eliminate single points of failure to keep digital assets safe and secure. In 2018, BitGo launched the BitGo Trust Company which offers fully regulated, qualified cold storage and also adheres to the Cryptocurrency Security Standard (CCSS), a standardized set of requirements that ensure the highest standards of compliance. BitGo is active in both centralized and decentralized finance, and also offers institutional-grade DeFi, staking and NFT wallet services. Today, BitGo provides the operational backbone for more than 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 approximately 20% of all global Bitcoin transactions by value.
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Oasis Pro Markets, founded by seasoned Wall Street and blockchain veterans, is a leading fintech and blockchain company with a mission to bridge 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 permit primary issuance and trading of public and private multi-asset digital securities as well as a full-service investment bank.
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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 agencies 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, public organizations, law firms, banks and other financial institutions.
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FinClusive is a hybrid retch/fintech company that connects traditional banking with the power of blockchain-enabled payments and virtual asset networks, through its built-in Financial Crime and Anti-Money Laundering (FCC/AML) Compliance as a Service (CaaS) reach. ). CaaS is a full-stack AML orchestration layer that integrates best-in-class vendors covering global know your customer/know-your-business (KYC/KYB), watchlist and sanctions monitoring and screening, transaction tracking and analytics, and provision of digitally verifiable identity credentials and legal entity identifiers (LEIs) – built for traditional, Defi and online financial services. FinClusive goes further by integrating its CaaS engine between blockchain and Defi payment rails with US banking and payments enabling a global standard tool for FCC/AML across different financial and payment networks and service providers.
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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, insurance companies and government agencies worldwide.
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Tokenomy is a licensed digital asset platform that offers a wide range of crypto-based financial services such as fixed deposits, stakes, dual currency deposits, lending, custody and spot and derivatives trading.
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VAF Compliance is a forensic services provider that creates individualized forensic reports for its clients in the digital assets service area, facilitating meaningful relationships between their clients and banking partners.
CMIC, launched in February 2022 by 17 co-founding exchanges, firms and trade associations, provides a unified voice to the crypto industry’s commitment to continuously improve market integrity and cooperation with regulators. The coalition takes initiatives that promote market integrity, address gaps identified by the signatories, and further engagement with regulators. CMIC is currently developing market integrity training specifically designed for the unique characteristics of digital asset markets and the challenges 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 roundtable discussion on what responsible market participants can do to improve market integrity in digital asset markets, what the biggest risks are to the industry’s growth, and how the industry can work with regulators to reduce these risks.
“As one of the first cryptocurrency exchanges, Bittrex has long prioritized security and trust for our users,” said Michael Carter, Chief Compliance Officer at Bittrex. “The ongoing work of CMIC is closely aligned with this goal, which is why we are excited to join the organization to enable a safe and regulated ecosystem for digital assets. We look forward to working with other coalition members on collective educational efforts and share insights that will contribute to the industry’s continued development.”
“We see a growing appetite among institutional investors to actively participate in the emerging digital asset economy, and regulatory clarity will address concerns that have stemmed from uncertainty. We continue to welcome discussions with policymakers on how to encourage innovation while protecting investors. and businesses,” said Jeff Horowitz, BitGo Chief Compliance Officer.
“We are pleased to see the industry’s 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 started CMIC. “Now more than ever before, it is clear that crypto’s potential depends on the ability to mitigate its emerging risks and provide demonstrable market integrity – and we look forward to continuing – and accelerating – our joint efforts to advance safe and regulated crypto.”
For more information about CMIC and to sign the pledge, please visit: www.cryptomarketintegrity.com
