🇺🇸 U.S. CFTC TO BEGIN USING NASDAQ SURVEILLANCE PLATFORM TO MONITOR CRYPTO DERIVATIVES TRADING AND PREDICTION MARKETS https://t.co/SVAHPB55BO
The @CFTC is stepping up efforts to surveil financial markets, tapping technology from Nasdaq to gain a more granular view of crypto transactions. https://t.co/1tJmqWcNyB
🇺🇸 JUST IN: US CFTC adopts Nasdaq’s surveillance system to boost crypto market oversight and prepare for expanded authority under pending legislation. https://t.co/CNeTsn8zzq
The U.S. Commodity Futures Trading Commission said it has begun deploying Nasdaq’s Market Surveillance platform, replacing a decades-old monitoring system to better detect fraud, wash trading and manipulation across traditional derivatives, cryptocurrencies and prediction markets. The cloud-based tool, already used by about 50 exchanges and nearly two dozen regulators worldwide, gives the agency a more granular, around-the-clock view of trading activity in a dozen asset classes. CFTC officials said the upgrade responds to the rapid growth of continuous trading venues and the emergence of new digital products. The move comes as Congress considers the CLARITY Act, legislation that would expand the CFTC’s authority over most cryptocurrencies, and follows a White House report urging stricter data-reporting requirements for non-security digital-asset venues. The Commission described the adoption as part of its broader “crypto sprint” to prepare for potential new responsibilities under the pending law.