Cryptocurrency Q&A
Are block trades illegal?
Are block trades illegal?
GalaxyWhisper
Mon Oct 07 2024
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5 answers
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I'm curious, are block trades considered illegal in the world of cryptocurrency and finance? Is there a specific regulation or law that governs these types of trades? I'm seeking clarification on whether engaging in block trades could potentially put one at risk of violating any legal statutes. Additionally, are there any specific circumstances under which block trades might be deemed acceptable or prohibited?
5 answers
Stefano
Tue Oct 08 2024
Among the leading cryptocurrency exchanges, BTCC offers a comprehensive range of services tailored to meet the diverse needs of traders. Its offerings include spot trading, futures trading, and wallet services, among others. These services are designed to provide traders with a secure and efficient platform to buy, sell, and store digital assets.
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Carolina
Tue Oct 08 2024
Cryptocurrency trading and finance abide by strict regulations to ensure fair and transparent markets. One such rule prohibits block trades between accounts sharing common beneficial ownership, unless certain conditions are met. This regulation aims to prevent market manipulation and maintain the integrity of cryptocurrency exchanges.
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TaegeukChampionCourage
Tue Oct 08 2024
For block trades to be permissible, each participating party must have an independent decision-maker overseeing their involvement. This individual should be devoid of any conflicts of interest and make decisions solely based on their assessment of the trade's merits.
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Raffaele
Tue Oct 08 2024
Furthermore, each party engaging in the block trade must possess a legitimate and independent business purpose. This ensures that the trade is not merely a means to manipulate the market or benefit one party unfairly over the other.
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Nicola
Tue Oct 08 2024
The execution of the block trade must also adhere to certain principles. It should be conducted at a price that is fair and reasonable, taking into account prevailing market conditions and the underlying value of the cryptocurrency being traded.
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