Foreign Nationals Charged In International Operation Targeting Wash Trading In Cryptocurrency Markets

On March 30, 2026, the United States Attorney’s Office for the Northern District of California announced indictments of ten executives and employees of four cryptocurrency focused financial services firms. The firms purport to make markets in various cryptocurrencies. The indictments flow from an undercover operation by the Federal Bureau of Investigation and Internal Revenue Service Criminal Investigation targeting “wash trading” in cryptocurrency markets.... By: A&O Shearman