Sumary of EXCLUSIVE Former top U.S. consumer regulator joins crypto risk monitoring firm:
- Its backers include private equity firms Evolution Equity Partners and Hanaco Ventures.
- Kraninger will lead and build out Solidus Labs’ regulatory team, spending most of her time working with regulators, U.S. lawmakers and traditional institutions to explain how digital markets can be effectively policed, she said in an interview.
- “Bringing the expertise that I have from how federal regulators think, state regulators think .
- Solidus Labs has built software to monitor crypto markets and help investment firms and other clients screen for manipulation, bad actors and meet compliance obligations.
- Its clients include crypto exchange Bittrex and Rialto Markets.
- The ability to monitor cryptocurrencies has become a major worry for regulators as the ballooning market, which reached a record $2 trillion capitalization in April, has experienced wild volatility.
- read more This month, Senator Elizabeth Warren called for increased cryptocurrency oversight, while Treasury Secretary Janet Yellen told regulators they must quickly establish rules for digital coins linked to fiat currencies, known as stablecoins.