“Given the absence of federal oversight jurisdiction in the crypto market, in February and again in March of this year I called on the crypto platform community to come together and develop a self-regulatory organization-like entity that could develop and enforce rules,” Brian Quintenz, a CFTC commissioner, said in a statement. “Today’s announcement is a positive step towards that realization.” The Winklevoss twins want to introduce a Bitcoin ETF, but when the SEC recently rejected the request for the second time, it cited concerns Bitcoin markets aren’t adequately policed for manipulation. They’re trying to step up enforcement, on their own exchange, at least: Gemini earlier this year hired Nasdaq Inc. to conduct surveillance on its market.

https://www.bloomberg.com/crypto