Gibraltar introduces regulation fighting crypto market manipulation ByAli RazaPRO INVESTOR Updated: 30 April 2022 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Gibraltar, one of the largest cryptocurrency hubs globally, has announced its plan to fight against manipulating the cryptocurrency market. The country has introduced a new set of rules that will ensure cryptocurrency prices are free from manipulation. Gibraltar tackles crypto market manipulation Gibraltar is an overseas territory in England. The rate of cryptocurrency adoption in the jurisdiction has grown significantly over the past year in line with the formulation of a friendly regulatory framework. The new crypto regulations seek to foster the integrity of the cryptocurrency market and ensure prices are only influenced by market forces. The Gibraltar Financial Services Commission (GFSC) released the regulatory guideline on April 27, 2022. Buy Bitcoin Now A special task force created the new regulatory guideline that comprises different government officials and experts in the cryptocurrency and blockchain sector. Governments and regulatory institutions have expressed increased concern over manipulating cryptocurrency prices. In an interview with CNBC, the minister for digital and financial services in Gibraltar, Albert Isola, said, “We were the first jurisdiction in 2018 to launch the legal and regulatory framework, and we’re now the first jurisdiction to launch a framework for market integrity. The more there is around the world in terms of international standards for this space, the more trust, the more usage, and the more adoption we will have around the world.” The new regulatory principle will require that the cryptocurrency firms operating in Gibraltar implement measures to prevent price manipulation. These measures should also prevent the manipulation of liquidity and information about the market. Businesses will also be required to prevent insider trading done by their employees. Cryptocurrency prices are highly volatile, but given that it is a new asset class, there have been concerns that prices could be manipulated. In the US, the Securities and Exchange Commission (SEC) said that it was reluctant to approve a spot Bitcoin exchange-traded fund (ETF) because prices were vulnerable to manipulation. Crypto regulations in Gibraltar Crypto regulations in Europe have been different between countries. However, some jurisdictions have shown openness toward embracing the cryptocurrency sector. Gibraltar is ranked as one of the jurisdictions with a favourable regulatory framework. Gibraltar’s favourable regulatory climate has attracted several cryptocurrency exchanges. In November last year, Huobi, which was once the largest cryptocurrency exchange in China, announced that its spot trading business would be relocated to the region. Buy Bitcoin Now Your capital is at risk. Read more: How to buy cryptocurrencies How to buy bitcoin Join Our Telegram channel to stay up to date on breaking news coverage