UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
The UK’s Financial Conduct Authority has banned the sale of crypto derivatives to retail consumers from next January, despite opposition from financial firms.
The FCA said crypto derivatives were “ill suited” for retail trading “due to the harm they pose” consumers. The ban will also cover exchange-traded notes (ETNs) that include unregulated crypto assets such as bitcoin or ethereum, but will exclude crypto commodities and central bank digital currencies.
Under new rules, the “marketing
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