US launches criminal probe into bitcoin price manipulation: Report

The US Department of Justice has launched acriminalprobeinto whether traders are manipulating thepriceofbitcoinand other digital currencies, Bloombergreported on Thursday.

The investigation concerns illegal practices that can influenceprices such as spoofing, or flooding the market with fake orders to trick other traders, Bloomberg said, citing four people familiar with the matter.

Federal prosecutors are working with the Commodity Futures Trading Commission (CFTC), the reportadded.

Neither the Justice Department nor the CFTC was immediately available for comment.