Wash trade

Market manipulation tactic which creates the illusion of demand

Wash trading is a form of market manipulation in which an entity simultaneously sells and buys the same financial instruments, creating a false impression of market activity without incurring market risk or changing the entity's market position. Wash trading has been deemed illegal in most jurisdictions. For instance, the United States enacted the Commodity Exchange Act (CEA) in 1936 to prohibit wash trading. To comply with regulations, most regulated stock exchanges have implemented protective measures, such as Self-Trade Prevention Functionality (STPF) on the Intercontinental Exchange (ICE). However, in some unregulated emerging markets, such as cryptocurrency, the practice is common.

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