Blockchain Association launches Market Integrity Working Group for transparency in cryptocurrency

Blockchain Association launches Market Integrity Working Group for transparency in cryptocurrency

The Blockchain Association announced in a blog on Medium that it has just set up the working group for market integrity to ensure “transparency and fairness” in the crypto space.

The Working Group on Market Integrity was set up to “support the development of a public policy that ensures the transparency and fairness of the cryptocurrency markets”.

Breanne Madigan, Head of Global Institutional Markets at Ripple, and Rachel Nelson, Senior Director, Associate General Counsel – Regulatory at Coinbase, will co-chair the working group. Its mission is to “bring clarity to the blockchain and cryptocurrency industry”.

The working group also aims to improve market integrity and build consumer confidence. Currently, crypto exchanges must go through state regulatory frameworks to operate in the United States.

“This complicated and inefficient process creates significant barriers to entry for new exchanges, places a complicated compliance burden on existing exchanges, prevents uniform regulation of digital commodity exchanges, and makes it difficult for consumers to understand the oversight of the exchanges they choose.” Blockchain Association said.

“Consumers and cryptocurrency exchanges deserve a clear legal framework that, if implemented, would ultimately improve market integrity and promote consumer acceptance of cryptocurrencies.”

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

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