Global Digital Finance (GDF)’s Patrol Body and Advisory Council has recently welcomed into its team the Huobi crypto exchange.
The GDF is also collaborating with other major firms such as R3, Coinbase, ConsenSys, Circle, Hogan Lovells, Diginex, and DLA Piper.
GDF works together with is patrol body to come up with solutions to various issues from the business sector and implement compliance and market integrity.
Huobi’s role as Patron Board will include developing GDF global strategy of creating the most optimal practices together with standards set for the crypto sector. Huobi will collaborate with the other members to add more members to the GDF community. As Huobi will take the position of the new GDF Market Integrity Working Group co-chair, it is expected that the exchange will take on a new set of duties.
In addition to the above-mentioned roles, Huobi will also be in charge of addressing issues such as market manipulation, wash trading, and other illicit market activities.
“At Huobi we are taking the sector by the horns and fighting from the front. By assuming the roles of the Market Integrity co-chair, we can help solve these issues as they come and bring credibility in the market.”- stated Josh Goodbody, Head of Europe & the Americas at Huobi Global Sales and Institutional Business.
GDF’s Executive Director, Teana Baker-Taylor, also agreed with Mr. Goodbody’s opinions regarding the role of the organization:
“The primary goal of the GDF’s Market Integrity is to create pragmatic solutions and working frameworks to be adopted by digital asset service providers. Besides that, their work will help bring integrity and credibility in the industry.”
Huobi also had to adhere to GDF’s Part I and III of Codes of Conduct in order to gain membership. The Codes of Conduct are the foundation on which GDF global operations are built on, and are all about bringing fairness to the market.
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