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TagsWhat measures are being taken by cryptocurrency exchanges to prevent wash trading?
JoeyDec 16, 2021 · 3 years ago1 answersWhat steps are cryptocurrency exchanges taking to prevent wash trading, a practice where traders artificially inflate trading volumes to manipulate prices?
1 answers
- 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.Dec 16, 2021 · 3 years ago
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