The Blockchain Association, the self-described “unified voice of the blockchain industry,” has put together what it calls a “Market Integrity Working Group.” Essentially, this group is meant to make sure that there is “transparency and fairness” within the cryptocurrency and trading markets.
Co-chairing the group is Breanne Madigan, the Head of Global Institutional Markets at Ripple, and Rachel Nelson, Coinbase’s Senior Director of Regulations.
What brought about such an organization is the “integrity of cryptocurrency markets” which are preventing many institutional and other investors from getting involved in the space. “To improve market integrity and provide consumers the confidence they deserve, Congress may need to enact legislation to support the orderly and secure functioning of crypto markets,” a Medium post on the matter reads.
Essentially, users can pretty much only trade on cryptocurrency exchanges, and those exchanges can only exist by weaving themselves through a ridiculous amount of regulatory pushback – especially in the United States. This group believes that “consumers and cryptocurrency exchanges deserve a clear regulatory framework, the establishment of which would ultimately enhance market integrity and drive consumer adoption of cryptocurrencies.”
The Market Integrity Working Group looks to be doing just that. While details are sparse on how exactly the group will be working to push a regulatory framework, we can expect to learn more about the project soon, and can be sure that whatever they cook up will be a good thing for the industry.