What's Happening?
Bybit EU has adopted Nasdaq's market surveillance technology to meet the EU's Markets in Crypto-Assets Regulation (MiCAR) requirements. This technology will help Bybit detect and prevent market abuse, ensuring compliance with regulatory standards. The platform's modular architecture supports Bybit's expansion plans and adherence to local regulations.
Why It's Important?
The integration of advanced surveillance technology is crucial for cryptocurrency exchanges to maintain regulatory compliance and protect market integrity. Bybit's adoption of Nasdaq's system demonstrates its commitment to responsible trading practices, which is essential for gaining trust among investors and regulators in the rapidly evolving digital asset market.
What's Next?
Bybit's use of Nasdaq's technology may set a benchmark for other exchanges seeking to comply with MiCAR and similar regulations. This move could lead to increased scrutiny and regulatory oversight in the cryptocurrency industry, prompting other exchanges to enhance their compliance measures.
