In its filings, Cboe argues that manipulating bitcoin prices is difficult due to the digital currency’s global infrastructure and that price manipulation in one venue would require manipulation across the global network in order to be effective, which would be a difficult task.
“In the documents, Cboe asks for exceptions to the rules because it does not believe bitcoin can qualify as a commodity at risk of being manipulated under the same rules as some existing ones are, noting that price manipulation would require a bad actor to influence the entire blockchain worldwide,” according to Coindesk.
At this writing, one bitcoin was equal to about $14,850.
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