Just-In: Bitvavo Taps Nasdaq To Bolster Security Ahead MiCA Implementation

Crypto exchange Bitvavo has an agreement with Nasdaq to use its Market Surveillance technology to boost the trust, transparency, and integrity ahead MiCA.
By Varinder Singh
Bitvavo Taps Nasdaq To Bolster Security Ahead MiCA Implementation

Highlights

  • Bitvavo signed an agreement with Nasdaq to boost market abuse detection and analysis.
  • Bitvavo to use the Nasdaq Market Surveillance technology to boost market abuse detection.
  • It will help support the exchange in early compliance with the EU's Markets in Crypto-Assets Regulation (MiCA).

Crypto exchange Bitvavo has signed an agreement with Nasdaq today to boost market abuse detection and analysis ahead of the implementation of the Markets in Crypto-Assets Regulation (MiCA) in the European Union. The exchange commits to improving security, trust, and stability amid the paradigm shift in crypto adoption globally.

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Bitvavo To Use Nasdaq Market Surveillance

The largest cryptocurrency Euro spot exchange globally Bitvavo and Nasdaq have entered into an agreement to use the Market Surveillance technology across the crypto exchange, as per an announcement on July 31. The exchange seeks to further boost the trust, transparency, and integrity of its marketplace ahead of MiCA implementation.

Amsterdam, the Netherlands-headquartered crypto exchange Bitvavo aims to bolster market abuse detection through detailed trading insights, order book replay with a consolidated audit trail, and analyze suspicious activity through alerts. The Nasdaq Market Surveillance will help the exchange in producing detailed reports to share with regulators.

“Partnering with Nasdaq allows us to leverage their proven expertise to effectively detect, monitor, and mitigate market abuse risks, enhance operational efficiency, and provide a more secure and stable trading environment for our clients,” said Jeetan Patel, Chief Risk Officer at Bitvavo.

Also Read: Fidelity Launches Bitcoin ETP On London Stock Exchange

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Compliance With MiCA

The technology will also help Bitvavo to support early compliance with the EU’s Markets in Crypto-Assets Regulation (MiCA). The new legal framework will support digital asset market by regulating crypto asset trading and ensuring consumer protection. Also, it places strict rules and requirements on crypto exchanges to detect and report potential market abuse.

Tony Sio, Head of Regulatory Strategy and Innovation at Nasdaq, said: “Our market surveillance technology can play a powerful role in enhancing the integrity of digital asset exchanges, helping to deliver many of the objectives of the incoming MiCA regulation.”

At the recent EthCC event, Circle’s policy head, Patrick Hensen, outlined the transformative impact MiCA could have on the industry.

Also Read: Binance Announces Listing Of These Trending Crypto Ahead Market Recovery

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Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
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