US Department of Justice looking into crypto price fixing

US Department of Justice opens private criminal probe into crypto traders who are manipulating Bitcoin and other crypto prices.

@anthony256
Published Thu, May 24 2018 9:15 PM CDT   |   Updated Tue, Nov 3 2020 11:51 AM CST

The price of Bitcoin has been sinking for a few solid days now, so it comes as a surprise that hte US Department of Justice is looking into criminal traders who might be manipulating the price of BTC and other cryptocurrenices.

US Department of Justice looking into crypto price fixing | TweakTown.com

Bloomberg reports from its wources that the DOJ investigation will target practices that have been regulated out of futures and equities markets. Illegal practices happen, where traders will submit false orders and then cancel them at the last minute, or they'll trade big numbers with themselves to create the look of (false) demand.

The site added: "Authorities worry that virtual currencies are susceptible to fraud for multiple reasons: skepticism that all exchanges are actively pursuing cheaters, wild price swings that could make it easy to push valuations around and a lack of regulations like the ones that govern stocks and other assets".

The concerns over manipulation of cryptocurrency prices has seen countries like China to ban crypto exchanges, while countries like Japan regulate them.

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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