U.S. Regulators Open Price Manipulation Probe After Exchange Dispute – Bitcoints

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Published on June 9th, 2018 | by bitcoin

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U.S. Regulators Open Price Manipulation Probe After Exchange Dispute

U.S. Regulators Open Price Manipulation Probe After Exchange DisputeRegulators requested data in order to investigate whether manipulation might be compromising prices in digital currency markets.
The probe followed the launch of Bitcoin (BTC) futures by CME Group in December last year.
CME forms its Bitcoin (BTC) futures prices based on data from four crypto exchanges; Bitstamp, Coinbase, itBit and Kraken, where manipulative trading could reportedly have distorted the value of BTC futures.
Investigators are going after trading schemes that can be used to manipulate the price of BTC futures that the government directly regulates.
Reportedly, regulators from the CFTC were upset that CME does not have agreements which obligate crypto exchanges to share price data that is related to futures contracts.

Source: Cointelegraph.com

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