We reported last month that the US Department of Justice launched an investigation into price manipulation in Bitcoin in a business alliance with the US Commodity Futures Commission (CFTC).
According to the Wall Street Journal, the CFTC reported that the price of crypto money
According to sources based on the news, regulators are based on the post-processing date of the manipulation investigation, especially when the CME Group launched Bitcoin transactions in December, to determine if there were any manipulations. The final values of these trades are based on quotes from stock exchanges such as Coinbase, Kraken, iTBit and Bitstamp.
CME wanted to share detailed trading data from four stock markets following the first Bitcoin futures contract, which was completed in January. However, several stock exchanges refused to give this information and refused to join the business association.
The disagreement pissed off the CFTC, at the same time, further suspicion of price manipulation, as CME restricted the claim to a few hours of activity rather than the whole day.
The CFTC is upset that CME's futures contracts do not have commitments by commodity traders to share trading data on which they are affiliated. Such an agreement could easily provide data that includes trading times, canceled or incomplete orders, order quantities, and the identities of the users. The stock exchanges are still expected to form a business alliance.
CME Group is a finance company operating in many different business areas. The company is a stock exchange that sells financial derivatives like Chicago stock exchange, option contracts and futures contracts.
On futures, buyers and sellers decide on time and price for an investment instrument and sign contracts.
CME's Bitcoin futures were a pioneering step in bringing crypto money into the mainstream.
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