The Crypto Market Integrity Coalition (CMIC), a unified industry voice for responsible crypto innovation, has launched its Industry Standard for Market Making in Digital Assets. With this, we have the first ever comprehensive best-practices framework for cryptocurrency market making.
Started back in 2022 by Solidus Labs, CMIC now boasts a strong 51-member membership. Its members include top firms like Coinbase, Circle, Bitstamp, Gemini, GSR, BitMEX and Robinhood.
All 51 CMIC member firms fully support the newly launched standard. These companies comprise the largest exchanges, liquidity providers, broker-dealers, industry consortia, custodians, and other infrastructure developers.
Market making is the backbone of liquid, efficient markets — but crypto’s structure introduces novel risks, especially around conflicts of interest and manipulation. - Chen Arad, Co-Founder of Solidus Labs
The CMIC Industry Standard for Market Making in Digital Assets is a reflection of the digital asset industry’s proactive approach to self-regulation. It shows that the crypto industry can act responsibly and implement best practices even in the absence of specific regulations.
As CMIC looks beyond this initial new standard, CMIC is working collaboratively to create additional standards to meet other market integrity challenges. Our greatest challenges such as shared-surveillance, tokenization, staking and fraud all affect our communication within this web.
For these reasons, CMIC has developed a Consumer Bill of Rights. They even put out a formal Market Integrity Code of Conduct and Pledge, on top of that Industry Standard for Market Making in Digital Assets. In addition to the above, the organization has created the CMIC Academy and filed several industry letters to decisionmakers.
