Huobi, a cryptocurrency exchange, partners with the industry group Global Digital Finance to improve its crypto standards. The announcement was made on July 31st in a press release by CoinTelegraph.
The alliance between Huobi and Global Digital Finance will help the later in acquiring new partners and improving its global strategy.
“Maintaining the public’s trust that markets are fair and transparent is crucially important if we want our industry to grow.” Josh Goodbody, head of Europe & the Americas, Huobi global sales and institutional business.
<img width="1024" height="683" src="https://www.cryptonewspoint.com/wp-content/uploads/2019/09/0-standards-concept-1024x683.jpg" alt="" class="wp-image-1342 lazyload" />
GDF’s executive director Teana Baker-Taylor says that “integrity and credibility of crypto markets are currently major hurdles for mainstream and institutional adoption of digital assets, as well as a key concern for regulators.”
“The goal of GDF’s Market Integrity Working Group is to devise a set of pragmatic, implementable guidelines that, if adopted by digital asset service providers, will promote a fair, ethical and transparent industry.” GDF’s executive director Teana Baker-Taylor
Reports suggest that Huobi has joined alongside major companies like “Circle, Coinbase, ConsenSys, DLA Piper, Diginex, Hogan Lovells and R3 on the organization’s Patron Board and Advisory Council.”
The partnership between the two “will try to address wash trading, market manipulation, and other abusive practices in the cryptocurrency industry.”