The Crypto Market Integrity Coalition (CMIC) has onboarded 13 new members including the likes of Gemini and Robinhood, since its formation two months ago. The CMIC now has a total of 30 signatories, which includes crypto exchanges, firms and industry associations.
The Solidus Labs-led initiative is committed to bringing together market participants in the digital asset space who are committed to enabling a safe and sensibly-regulated crypto ecosystem.
“We’re delighted to welcome such industry leaders to CMIC, furthering its reach, impact and expertise, and its ability to promote integrity, accelerate adoption, facilitate dialogue with regulators and share insights” said Asaf Meir, Founder and Chief Executive of Solidus Labs of the new members.
The 13 new signatories are Gemini, Robinhood Markets, Bitpanda, Matrixport, Nexo, Symbridge, INX, Deltec, LibertyEx, Chainalysis, Elliptic, TRM Labs, Kaiko.
Fran Kenck, Chief Regulatory Officer of Gemini said, “We are excited to partner with CMIC and other industry peers and are committed to the continued, safe, and responsible growth of this ecosystem, both on and off the Gemini platform.”
For every firm or company that joins this group, their CEO has to take a pledge that promotes a fair, safe and regulated market. The pledge also includes upholding “Market Integrity and Market Efficiency into our operations and business strategy”.
“CMIC’s pledge aligns with Robinhood’s safety-first value and will help promote a balanced digital assets ecosystem” said Dan Gallagher, Robinhood Chief Legal and Corporate Affairs Officer. “We look forward to contributing to this important work.”
CMIC has planned to advance training programs and encourage insight-sharing and research and dialogue with researchers. There are also talks of data-sharing and shared-surveillance frameworks that can address crypto and decentralized finance’s unique cross-market supervision challenges.
“Crypto’s immense potential to enable more accessible, transparent and efficient financial services depends on the ability to improve integrity standards and address the public and regulators’ concerns. That can only be achieved by working as an industry” continued the Solidus Lab’s founder.
CMIC was co-founded by 17 members in February. Its founding members included the likes of Coinbase, Circle, Anchorage Digital and Huobi Global.
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