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What measures are being taken by cryptocurrency exchanges to prevent wash trading?

avatarSHARATH BALANDec 17, 2021 · 3 years ago1 answers

What steps are cryptocurrency exchanges taking to prevent wash trading, a practice where traders artificially inflate trading volumes to manipulate prices?

What measures are being taken by cryptocurrency exchanges to prevent wash trading?
Cryptocurrency
Wash Trading
Exchanges

1 answers

  • avatarDec 17, 2021 · 3 years ago
    At BYDFi, we take wash trading prevention seriously. We have implemented a comprehensive set of measures to detect and prevent wash trading on our platform. Our advanced trading surveillance system continuously monitors trading activities and identifies any suspicious patterns. We also collaborate with external market surveillance providers to enhance our monitoring capabilities. Furthermore, we have strict KYC and AML procedures in place to ensure that all our users are properly identified and verified. By implementing these measures, we aim to maintain a fair and secure trading environment for our users.

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