UK Financial Regulators Have Announced Their Intention to Ban Individual Investors from Trading in Virtual Currency Derivatives

The U.K.'s Financial Supervisory Service (FCA) announced that it would ban private investors from trading virtual currency derivatives. In the U.K., there has been a comment from financial regulators since last year that the ban on virtual currency derivatives is being reviewed, and the ban seems to have been set in motion.

In a document titled "Contracts for Various Products Sold to Customers," the Financial Supervisory Service said the regulator will soon issue an advisory document on banning virtual currency derivatives such as Bitcoin futures. He also reportedly told individual investors that he would soon enforce a ban on certain products related to virtual currency.

The regulator's response is known to be in line with its issued (in July 2018) and renewed (in October 2018) document "Cryptoassets Taskforce: Final Report." According to the Financial Supervisory Service (FCA), the new regulation would replace conventional regulations on credit-based payment transactions (CFDs) in virtual currencies.

In other areas of policy regarding CFD, the Financial Supervisory Commission (FCA) generally presents an excessive risk to individual investors and concerns about the complexity of a debit-payment transaction (CFD).

Reporter Jenny Lee (news@dailycoinews.com)의 기사 더 보기

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