FCA Bans Crypto-Derivatives Sales To Retail Clients
Law360, London (October 6, 2020, 12:39 PM BST) -- The Financial Conduct Authority said on Tuesday that the sale to retail customers of all derivative products linked to crypto-assets will be banned from January after it found that the risky assets can cause serious harm to investors.
The FCA has published its final rules that will impose a ban on derivatives and exchange trading notes whose underlying product is some kind of crypto-asset — digital currencies and assets that have gained global popularity in recent years.
"This ban reflects how seriously we view the potential harm to retail consumers in these products," Sheldon Mills, interim executive director of strategy and competition...
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