Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by thess24 on Thursday December 21, 2017 @05:33PM (#15983478)

I've seen a few well know prop trading firms that are trading cryptocurrencies as well (Jump, DRW, probably others) and there doesn't seem to be too much talk of that. Goldman lends credibility and pretty much everyone has heard of them, so I get this is bigger news, but to me the more interesting news is in the trading firms.

Prop trading firms have no reason not to manipulate the cryptomarkets (it seems legal) and have the capital and knowledge to do so. Or am I missing something and manipulating these markets is illegal?

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by zmk_ on Thursday December 21, 2017 @06:01PM (#15983692)

It is not illegal as the market is not regulated right now. You can actually see manipulation in BTC right now.

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by tim333 on Thursday December 21, 2017 @08:36PM (#15984609)

I think it might be more accurate to say the laws are not enforced now as the markets are not regulated. That's not the same as legal. I'm not sure market manipulation / insider trading laws are that specific as to which asset you are manipulating as to make crypto ok. There's some talk now about Coinbase insiders trading ahead on bitcoin cash and some debate as to whether they could be done for that. I'd be curious how that plays out.

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