You can be a de facto market maker without any government regulation. Economically, a market maker is someone who moves the bid and ask closer, so that more pe

You can be a de facto market maker without any government regulation. Economically, a market maker is someone who moves the bid and ask closer, so that more people are willing to do transactions. They do this by deducing the true price, and they might do this through fundamental or technical analysis. Providing liquidity in all situations might be useful, but it is an added bonus. If you don't do this, you are still a market maker.