Binance offers API users anti-fraud features | coindesk JAPAN

Cryptocurrency exchange Binance has introduced a new feature to prevent its API users from self-trading on the platform.

It has been available to Binance API users since January 26th. Users via websites and apps are unaffected.

Binance said the feature is optional and will not affect users who choose not to use it.

Anti-self-trade feature blocks execution of orders that result in fraudulent trades. Self-trading is buying and selling where users trade with each other to create the illusion that more trades are taking place than they actually are. Therefore, this is considered a form of market manipulation.

The Binance API allows other trading firms to connect to Binance’s servers, access market data and trade.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Unsplash
｜Original: Binance Introduces Function for API Users to Prevent Self Trading