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Member278576

Drama at bitfinex with XRP

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5 hours ago, Inequivalent said:

Lol what? How would regulation help that? This is simply a large sell order, which can be done on any markets.. theres nothing illegal at all about it. The only reason we see such drastic changes in prices is due to low volume in crypto compared to stocks. 

Are you saying when crypto is regulated people won't be allowed to do large sell orders? LOL

I'm wondering if "wash sale" rules will ever apply to crypto - if they did, it could slow down some of the manipulation IMO...

"What is the 'Wash-Sale Rule'"

"The wash-sale rule is an Internal Revenue Service (IRS) regulation that prohibits a taxpayer from claiming a loss on the sale or trade of a security in a wash sale. The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so."

https://www.investopedia.com/terms/w/washsalerule.asp


 

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16 hours ago, sven12345 said:

Yea and imagine all the people with a stop loss at that price boom there goes your profit in 1 min it's all gone. This is why we need regulation.

So the Winklevoss twins have partnered with NASDAQ to use the stock exchanges market survaillance technology to prevent manipulation.

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