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May 24, 2018

US Department of Justice is investigating Bitcoin price manipulation

Bitcoin has always been contentious, especially as prices of the decentralized currency rise and fall at rapid-fire rates. The United States Department of Justice is taking a closer look at that by opening a criminal probe into price manipulation of Bitcoin (and other cryptocurrencies), according to a report from Bloomberg.

According to the report, investigators are specifically looking into practices like spoofing (filling the marketplace with fake orders that are later canceled to manipulate others to buy or sell a particular coin) and wash trading (trading with oneself in order to falsely imply more market demand than there actually is). There are forms of cheating that have long existed and been battled in more traditional financial...

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