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Usha Yadav
Apr 28, 2022
by Usha Yadav

Gibraltar Has Set Laws to Combat Cryptocurrency Market Manipulation

Gibraltar Cryptocurrency
Gibraltar has announced new restrictions to prevent insider trading and market manipulation in the cryptocurrency sector. Earlier today, the British overseas territory announced a modification to existing rules and a guideline note for crypto firms operating under its authority.

The Gibraltar Financial Services Commission (GFSC) has clarified that crypto firms must resist price manipulation, liquidity, market information leakage, and any other behavior that compromises market integrity.

According to a government note, market integrity is critical for a fair, orderly, and efficient market. It includes monitoring for manipulative trading and other forms of market abuse, high transparency rules, and strong consumer protection.

According to instructions released alongside the policy, a DLT provider must establish measures to avoid or minimize the effects of any pricing, liquidity, or market information manipulation and prevent workers from engaging in insider trading.

A professional market integrity working group composed of government representatives and leaders in the blockchain and digital asset space helped write the new regulations.

On top of the nine other principles that corporations are already expected to follow, the country's financial regulator emphasizes market integrity. Integrity, corporate management, governance, financial crime, contingency plans, and more are highlighted in these principles.

Gibraltar issued a regulatory package for distributed ledger technology in 2017, allowing crypto businesses to obtain a license if they followed the existing standards.

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Gibraltar Has Set Laws to Combat Cryptocurrency Market Manipulation
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.