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Home Business & Finance Solidus Labs Launches Crypto Market Surveillance Tool in US

Solidus Labs Launches Crypto Market Surveillance Tool in US

Document Analysis NLP IA

696
WORDS

WORDS
3:28
Reading Time

Reading Time
neutral
sentiment

Sentiment0.080962469733656
objective
redaction

Subjectivity0.44846650524617
probably it's an affirmation
Affirmation0.33760683760684

Highlights

RELEVANT
FREQ, RAKE or TFIDF
Entity
ORG
Entity
PERSON
Entity
PRODUCT
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OTHER
Key Concepts (and relevance score)

Summary (IA Generated)

Market manipulation is one of the main concerns the U.

However, a number of ETF applications have been rejected by the SEC, which has said the bitcoin market isn’t large enough to properly surveil.

In 2019, the agency rejected Bitwise’s effort, saying there needed to be a surveillance-sharing agreement between an exchange and a market of “significant” size as one potential example of how to address this concern.

The program collects data from a number of parties conducting transactions, mainly exchanges, acting as a sort of intermediary for the information.

This ensures that exchanges aren’t required to share potentially proprietary trading data with each other, Arad said.

Solidus’ system then processes the information, comparing buy and sell data to look for potential wash trading or other forms of market manipulation.

Part of this processing includes comparing market information from accounts on one exchange to its “neighbors,” meaning accounts with similar attributes, said Solidus CEO Asaf Meir.

Our product works off of private data that exchanges, broker dealers, regulators provide us with,” Meir said.

Solidus is in discussions with a number of crypto exchanges and regulatory agencies to begin operating its surveillance tool in the U.

Chris Land, general counsel at the Wyoming Division of Banking, said his agency is one of the regulators working with Solidus and evaluating its solution.

S.

clients, Arad said, adding that it had been developed specifically to address regulatory concerns.

In that process we also started working with the regulator, and we generally developed the product with regulators,” he said.


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