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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!