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According to the U.S. Commodity Futures Trading Commission, wash trading is defined as"Entering into, or purporting to enter into, transactions to give the appearance that purchases and sales have been made, without incurring market risk or changing the trader's market position." Wash trading is illegal based on the text of The Commodity Exchange Act.
Forbes also noted that"there is no universally accepted method for calculating the Bitcoin daily volume," so all figures used should be considered as the best estimates possible based on the available data.
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