U.S. Department of Justice Maintains a Keen Eye on Cryptocurrency Price Manipulation


Cryptocurrency Price Manipulation

Adding to the already controversial digital assets, purveyors and traders of cryptocurrencies find themselves in the spotlight. This time, however, the limelight is not regarding the latest Initial Coin Offering (ICO) or valuation forecast. Instead, the news is regarding a criminal probe into cryptocurrency price manipulation. The investigation, in this instance, comes from the United States Department of Justice (DOJ). The focus is on cryptocurrencies, with an emphasis on bitcoin. As if the capital markets are not sufficiently complex, cryptocurrencies add a new dynamic in a largely unregulated market. Accordingly, the Commodities and Futures Trading Commission (CFTC) focuses on illegal trading activities and are able to impose relevant fines.

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Hi-Tech and Fraudulent Trading Scheme

“Extreme market volatility and lack of regulatory oversight over trading platforms have led the justice system and financial watchdogs in the U.S. to worry over the cryptocurrency market and potential criminal market plays.”