RATE Group | Cryptocurrency Exchanges Have a Bot Problem
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Cryptocurrency Exchanges Have a Bot Problem

04 Oct Cryptocurrency Exchanges Have a Bot Problem

Posted at 04:23h in Cryptocurrency News by

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Cryptocurrency Exchanges Have a Bot Problem

On Tuesday, Oct. 2, the Wall Street Journal released a report claiming that trading bots, a popular tool for both cryptocurrency and fiat investors, could be at the heart of the crypto market’s infamous volatility.

Bots are commonly used, and you can buy them yourself online or create them if you have the know-how. The problem, the WSJ report contends, is regulation.

More oversight needed to combat fraud, says report

The lack of or irregular regulation of cryptocurrency exchanges is an oft-cited reason for cryptocurrency’s lack of mainstream acceptance, and the leeriness of even savvy investors to take the plunge. Companies like Coinbase and Bakkt are definitely stepping up to help solve this problem—Bakkt is an arm of Intercontinental Exchange—but it does still exist. The WSJ claims:

“While established markets like the New York Stock Exchange monitor for illegal trading and punish rule-breakers, crypto exchanges vary widely in their surveillance efforts. Most crypto…

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