Cryptocurrency exchange and custodian Gemini has chosen Eventus Systems to provide it with surveillance and anti-market manipulation tools. Austin-based Eventus already provides its services to Coinbase and ErisX, and three other exchanges.

Currently, a less regulated space, crypto, is seeing increased scrutiny from the regulators. Manipulation has been the primary reason why the US Securities and Exchange Commission (SEC) has repeatedly rejected the Bitcoin ETFs.

“The digital asset space is a constantly changing environment,” Noah Perlman, Gemini’s chief operating officer, said in a statement. “Eventus has a great track record.”

Gemini was founded by Cameron and Tyler Winklevoss in 2014. They also created the Virtual commodity Association in 2018 to work with regulators, including CFTC, to prevent fraud and manipulation in crypto markets. That year, Gemini hired Nasdaq to provide market surveillance.

“As digital assets grow in popularity, it’s more important than ever that marketplaces like Gemini establish comprehensive trade-surveillance programs and procedures to ensure they remain constantly vigilant,” said Eventus chief executive officer Travis Schwab.

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