U.S. government officials have ordered multiple cryptocurrency exchanges to fork over comprehensive trading data in order to aid in their investigation of whether or not cryptocurrency markets are being manipulated.
‘Required to Share Information’
Four major bitcoin exchanges have been ordered to turn over comprehensive trading information to U.S. government investigators, following fears of bitcoin futures-driven market manipulation. The report comes from The Wall Street Journal, which spoke to individuals close to the matter.
The government’s investigation has been spurred on by fears that bitcoin futures on CME Group Inc.’s CME exchange have caused the price of the first and foremost cryptocurrency’s futures to be manipulated — something which falls underneath the government’s regulatory umbrella.
The final price for bitcoin futures is derived from Bitstamp, Coinbase, itBit, and Kraken — four of the biggest exchanges in the bitcoin-trading space.
A spokeswoman from CME told The Wall Street Journal that its index provider has an information-sharing agreement with all of the aforementioned exchanges, stating:
All participating exchanges are required to share information, including cooperation with inquiries and investigations.