Gemini Trust Company has announced it is increasing oversight of its crypto trading using Nasdaq’s market surveillance technology to detect manipulation and fraudulent trades.
Gemini is owned and operated by the Winklevoss twins.
Nasdaq’s surveillance technology called SMARTS Market Surveillance will enable Gemini to monitor all its trading pairs, including: bitcoin/U.S. dollar, ether/dollar, and bitcoin/ether, Gemini said in a statement.
The technology will also oversee activity across the Gemini auction process used to determine the settlement price for the bitcoin/XBT futures contracts that trade on the Cboe Futures Exchange.
Around the world, governments are debating how to regulate cryptocurrency trading, a market that critics say remains opaque and vulnerable to risks such as money laundering.