- The United States and Japan lead the world in the accurate reporting of trading volumes.
- There has been a 35.7% decrease in global wash trading among the top 40 exchanges since the beginning of 2019.
The latest Blockchain Transparency Institute (BTI) show that exchanges that have maintained clean trading volumes include, Coinbase, Upbit, Kraken, and Poloniex. The report released on September 19 is the fifth one since August 2018. It is carried out via BTI’s proprietary algorithm which cleans all wash trading from the reported exchange trading volume.
“Since the start of 2019, global wash trading has reduced by 35.7% among the real Top-40 exchanges. The process of sharing our data reports with many of these exchanges has resulted in enhanced mechanisms for detecting wash trading accounts and shutting them down.”
The exchanges with the highest rates of wash trading are OKEx and Bibox among the top 40 exchanges in the industry. The United States and Japan lead the rest of the world in terms of clean trading volume reporting.
“This can be due to several factors, the main of which is the legal and regulatory standards in these countries. However, stricter regulatory frameworks do not always produce the cleanest exchanges.”
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