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FCA Weighs Ban On Derivatives Based On Crypto-Assets

Law360, London (November 20, 2018, 7:19 PM GMT) -- The Financial Conduct Authority is to consult on whether to ban the sale to retail customers of derivatives based on some types of crypto-assets, a director of the City watchdog said Tuesday.

Christopher Woolard, the FCA's executive director of strategy and competition, said the assets it is scrutinizing include options, futures, transferable securities and contracts for difference, which allow buyers and sellers of shares or currencies to bet on swings in price movements.

"We're concerned that retail consumers are being sold complex, volatile and often leveraged derivatives products based on exchange tokens with underlying market integrity issues," Woolard said.

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