The United States will investigate Bitcoin for presumed abusive price manipulation

The Department of Justice has just launched an investigation focused on Bitcoin and other cryptocurrencies. According to information obtained by Bloomberg, the objective is to determine if there has been abusive price manipulation.

This is the first effective attempt by the United States to shed some light on the transaction system that regulates the value of Bitcoin. The suspicion is that some of the users of this currency have carried out fraudulent practices to increase their value, such as flooding the market with false purchase orders, or carry out transactions with oneself to imply that there is more demand than the real one. market.

This type of practices are illegal in any financial market, but the lack of official regulation around Bitcoin has prevented the administration from scrutinizing the cryptocurrency in search of irregularities. Another aspect that the department wants to regulate is the initial offers of currencies, which should be made according to strict rules that guarantee equal access to potential buyers. [Bloomberg]

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About the Author: Dara Steenburgh

Dara has been a reporter at with Crypoto Post Gazette since Nov. 2016. She enjoys running, practicing minimalism, reading whatever Oprah recommends, and trying out the next best skincare item that probably won't work. Dara is a graduate of Wesleyan University in Connecticut where she studied journalism, Arabic and international affairs. To contact Dara, just click here

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