Later settling charges of improper reporting of commutation volume and "self-trading" with the Community Futures Trading Committee, or CFTC, on Friday, reports have emerged that cryptocurrency commutation behemothic Coinbase is set to push dorsum its stock list to next month. The company had previously been expected to become public some time in March.

On Friday, the CFTC announced a settlement with Coinbase over charges that the visitor inaccurately reported trading data on Bitcoin (BTC), and that an employee "cocky-traded" to create the illusion of volume and need for Litecoin (LTC).

"Reporting false, misleading, or inaccurate transaction data undermines the integrity of digital asset pricing," said Acting Director of Enforcement Vincent McGonagle. "This enforcement action sends the message that the Commission volition act to safeguard the integrity and transparency of such information."

The CFTC order says that between January 2015 and September 2018, the company operated ii automated trading programs, Hedger and Replicator. While the exchange disclosed the employ of a trading program, information technology did non reveal that it was using the two that often matched trades.

As a effect, the Coinbase API delivered fraudulent trading data to entities such as: the CME Bitcoin Existent Time Index and CoinMarketCap, every bit well as the NYSE Bitcoin Index via "direct transmission" from Coinbase.

The CFTC noted that this falsified data "potentially resulted in a perceived volume and level of liquidity of digital assets, including Bitcoin, that was fake, misleading, or inaccurate."

Additionally, the announcement notes that an employee intentionally placed matching LTC/BTC trades during a six-week period in 2016 to create the illusion of liquidity and need for LTC. The CFTC found Coinbase "vicariously liable" for these fraudulent trades.

The total penalty for these charges is $6.five 1000000.

Direct listing delayed

Following the settlement with the CFTC, a report from Bloomberg says that the exchange has delayed its direct stock list to adjacent month.

Citing "people familiar with the matter," Bloomberg said that the plans for a March stock offering on American exchanges has "slipped," and no farther details were provided.

Earlier this calendar month, Bloomberg cited anonymous sources to report that Justin Sun had won the virtually $70 million Christie'southward auction for a Beeple nonfungible token, which was afterwards proved to be false, and that Binance was nether investigation past the CFTC for allowing U.S. residents to place illegal trades. Binance CEO Changpeng Zhao vigorously denied the characterization of the study.