The Winklevoss Twins’ Gemini (get it?) cryptocurrency exchange is now using the Nasdaq’s SMARTS surveilance software to check for trading anomalies for Bitcoin and Ether in real time.
It will also monitor the auctions that Gemini holds weekdays at 4:00 p.m. ET to determine a daily benchmark price for Bitcoin. These auction prices are used by the Cboe for determining derivative trades.
Once spotted, the site will investigate to determine if there is market manipulation going on.
Other exchanges are not so anxious to cooperate with regulators, with Kraken’s CEO pushing back against questions sent by the New York Attorney General.