CFTC price manipulation probe against 4 crypto exchanges: Discussion

[Viking81]

US Regulators opened price manipulation probe against 4 crypto exchanges: Bitstamp, Coinbase, itBit and Kraken. It was the main reason for current BTC and alts price slump. What do you think of it? What are reasons for the CFTC probe and what are its implications for the cryptomarket longterm?
In my mind, opened price manipulation probe is an formal excuse to be used by CFTC to accelerate introduction of strict crypto regulations & to strengthen control over cryptoexchanges. Moreover I do not rule out that ongoing CME & BTC exchanges dispute is a well-thought-out deliberate "provocation" to justify the active CFTC intervention. Quite possibly, CFTC will be able to detect some "fraudulent" and "price manipulations" activities during the probe that provokes a closure of some involved crypto exchanges.

[mktpromp]

The US regulations has decleared a manipulation against the four crypto exchanges, they are : IIBit, Bitstamp, kraken and Coinbase.

[PaulTrace]

Price manipulation is not a good character of this market. For this reasons people are afraid to invest on this market. It decrease the coins demand also. That’s why i think immediately this problems need to be solve.

[dellmoon]

A very good initiative. Such culprits should be found out and given punishment for manipulating the market.

[Pursuer]

to me it doesn't make sense that price should fall just because CFTC started looking into manipulation! if anything nearly all price movements should have stopped immediately and we should have seen a stable market if there was any kind of fear of this "probe" into manipulations.

what happened instead was that they used this news and a couple of others such as that Asian exchange hack to manipulate prices even more and drop the price another step lower.

In my mind, opened price manipulation probe is an formal excuse to be used by CFTC to accelerate introduction of strict crypto regulations & to strengthen control over cryptoexchanges.

this is not a bad thing though if you think about it. we all know that the cryptocurrency exchanges have never been trusted places for traders to go and do what they do. we have seen enough scams and runaways in the name of "hacks" that we actually need strict regulations if you ask me. and if done right we may even see an increase in adoption of bitcoin since a lot of people are scared of using shady exchanges to buy bitcoin but they will feel a lot better using a regulated and more trusted place to buy bitcoin.

[muddy waters]

US Regulators opened price manipulation probe against 4 crypto exchanges: Bitstamp, Coinbase, itBit and Kraken.

I wish they opened an investigation against those whales that manipulate the prices just when they want to.
Crypto market certainly needs to be regulated, but I doubt if the chosen means of regulation could be helpful..

[SuperD007]

The problem here is that now that the bankers and stock traders are all getting in on the crypto market then we can expect more and more manipulation taking place. They have been manipulating the markets for decades on the stock markets and forex markets.

[dothebeats]

Possibly a show of force from the CFTC's side? There are tons of fraudulent events going on every day yet they laid their eyes on the crypto scene, which makes me think that they're now trying to get involved to show people that crypto isn't untouchable. Moreover, with the growing interest of people on crypto and 'knowing' that they can sort of make a lot of money by just buying, of course these people would also want a share of the pie. Strict regulations regarding crypto are possibly already in the works, especially in spoofing and other fraudulent trading actions that are happening within crypto exchanges.

[GaryGadoot]

Based on this question I have to say that in market there are lots of coins but most of the coins are under regulations also this may create problems for price because of them many scam coins are created and people are getting de motivated so people invest less here so this the main reason for this.