BIBIT EU, the European division of the world’s second largest cryptocurrency exchange, is adopting NASDAQ’s market surveillance platform to strengthen compliance with Crypto-Assets Regulation (MICAR) EU markets, following a report shared with Finbold on August 28th.
Filling the gap with traditional financial standards
With the integration, the BYBIT EU is equipped with institutional grade monitoring tools to detect and prevent market abuse across its European operations.
The NASDAQ platform combines advanced pattern recognition analytics with comprehensive market data to coordinate crypto monitoring with long established standards in traditional finance.
“This agreement demonstrates our commitment to providing safe, transparent, fully compliant digital asset transactions while continuing to grow our business.” said Mazurka Zeng, Managing Director and CEO of Bybit EU. “We welcome the opportunity to partner with NASDAQ, where innovative technology and unparalleled surveillance expertise can help protect the resilience and integrity of our market.”
“MICAR is driving a step change in investor protection across the digital asset market, but many compliance programs are unable to match the level of investor protection offered by traditional markets.“We have added Ed Probst, head of regulatory technology at Nasdaq. “We welcome the opportunity to partner with the BYBit EU, which recognizes the benefits of incorporating comprehensive market data into our monitoring framework to protect against comprehensive threat scenarios. We look forward to building this relationship and working to advance the trust and resilience of the entire digital asset ecosystem.”
Surveillance of the NASDAQ market is widely deployed across financial markets, serving over 50 exchanges and 20 regulators worldwide.
For Crypto, the platform adds tailored features designed to identify operations such as layering, spoofing, and cross-market violations. It also offers full purchase order replays, auditing capabilities, and 24/7 monitoring for billions of transactions each day.
The adoption marks another step in which European regulators coordinate digital asset exchanges with established regulatory standards to promote a higher level of transparency and investor protection under MICAR.
Special images via ShutterStock.
