Recent disclosures about money laundering, dishonesty and fraudulent activity by Binance, FTX and other organizations have seriously damaged public trust in the crypto asset market, especially concerning trading platforms. Rebuilding trust demands a firm commitment to safeguarding investors’ interests and transparency. Bruce Tupper, president and creator of CoinRegTech, and Tyler Williams, Galaxy’s head of legislative and regulatory affairs, offer insights on how these can be achieved in cryptocurrency markets.
They propose two key measures — Off-Chain Transaction Reporting and Proof of Reserves (PoR) Reporting — as essential steps for trading sites to adopt. These measures would enhance…
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