U.S. launches criminal probe into bitcoin price manipulation: Bloomberg

(Reuters) – The U.S. Division of Justice has launched a criminal probe into whether or not merchants are manipulating the price of bitcoin and different digital currencies, Bloomberg reported on Thursday.

FILE PHOTO: Illustration of the Bitcoin digital foreign money standing on the PC motherboard is seen on this illustration image, February three, 2018. REUTERS/Dado Ruvic/Illustration/File Photograph

The investigation considerations unlawful practices that may affect costs resembling spoofing, or flooding the market with faux orders to trick different merchants, Bloomberg mentioned, citing 4 individuals conversant in the matter.

Federal prosecutors are working with the Commodity Futures Buying and selling Fee (CFTC), the report added.

Neither the Justice Division nor the CFTC have been instantly out there for remark.

Reporting By Aparajita Saxena in Bengaluru; Modifying by Sai Sachin Ravikumar

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