UK Regulator Eyes Retail Ban On Crypto Derivatives

Law360, London (July 3, 2019, 12:22 PM BST) -- The Financial Conduct Authority announced Wednesday it is considering a ban on the sale of derivatives based on crypto assets to retail customers,  warning they are “ill-suited" for individual investors and vulnerable to market abuse.

The U.K. markets watchdog said crypto assets — which include digital currencies such as Bitcoin, Litecoin and Ethereum — are extremely volatile, and there is no reliable basis on which to value them. There is also a lack of understanding about crypto assets among consumers or a “clear investment need” for such products, the FCA said.

“Most consumers cannot reliably value derivatives based on unregulated crypto...

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