FCA proposes ban on cryptocurrency products

Financial Conduct Authority says cryptoassets are ill-suited to small investors and very volatile

The UK’s markets regulator has proposed a ban on financial instruments linked to digital “cryptocurrencies” such as Bitcoin, warning that such products could cause huge losses for retail consumers unlikely to understand their risks or value.

The Financial Conduct Authority (FCA) said products such as derivatives and exchange traded notes (ETNs) that reference cryptoassets were “ill-suited” to small investors.

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From our friends over at the : Business | The Guardian

 

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