Gemini cryptocurrency exchanges, Bitstamp, Bittrex and BitFlyer will work together to combat manipulation in the market of digital assets within the framework of the Association of virtual commodities (Virtual Commodity Association, VCA), created by brothers Cameron and Tyler Winklevoss (Cameron, Tyler Winklevoss).
The main provisions of the activities of the new structure, the participants will formulate at the first meeting, which will take place in September this year. In General, it is expected that the organization will develop the standards of work of kryptonyte, and together with the financial regulators: to facilitate transparency.
The Commissioner of the Commission on trade commodity futures (CFTC) Brian Quintenz (Brian Quintenz) called the news of the formation of the organization, a positive step towards implementing regulation of kryptonyte.
Recall that the intention of the brothers to take control of the cryptotrading and create VCA became known in March of this year. In June, they received a U.S. patent on the concept of cryptocurrency exchange-traded Fund (ETF), and in July, the SEC rejected their second request to open a bitcoin ETF.