FLOKI (floki) 
Dutch cryptocurrency exchange Bitvavo has teamed up with Nasdaq to enhance market monitoring and detect illegal activities.
On July 31, Bitvavo announced its use of the Nasdaq Market Surveillance tool to identify and investigate potential market abuse. This EU-regulated exchange, headquartered in Amsterdam, aims to gain trading insights and visualizations, replay its order book with a consolidated audit trail across multiple assets, and scrutinize suspicious activities through various alerts. The tool will also help generate reports for relevant regulators.
Tony Sio, Nasdaq’s head of regulatory strategy and innovation, commented on the collaboration, highlighting the significant challenges the crypto market faces in matching the investor protection and market confidence of traditional markets. He emphasized that their market surveillance technology could enhance the integrity of digital asset exchanges and support the objectives of incoming EU regulations.
“Our market surveillance technology can play a powerful role enhancing the integrity of digital asset exchanges, helping to deliver many of the objectives of the incoming MiCA regulation.”
This partnership aims to address these challenges and align with the EU’s recently launched Markets in Crypto-Assets Regulation (MiCA). MiCA imposes strict rules and requirements on crypto exchanges to detect and report market abuse, similar to traditional financial markets.
Founded in 2018 by Jelle de Boer and Tim Baardse, Bitvavo has regulatory approval from the Dutch central bank to operate as a digital asset service provider.
In December 2022, Bitvavo disclosed that around €280 million of its funds were stuck at Digital Currency Group (DCG), the parent company of Grayscale, Foundry, and Luno, which encountered issues following the FTX collapse. Bitvavo expects to recover at least 80% of the trapped funds from DCG after a settlement with the American crypto firm.
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