There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
When i saw this tittle , I was hoping to see some news that it is already happened.
It would be only logical to see that, but it wont happen so soon. It means that every country where these exchanges are located should make specific laws for crypto exchanges. I dont see this happening so soon unfortunately.
In all fairness it is enough that China enforces such a law, most large exchanges are based there.
The problem here is that governments of countries don't care about this. Considering all troubles and worries that governments have about cryptocurrencies, fake volume is the tip of the iceberg.