RATE Group | FCA is free to decide whether cryptocurrency derivatives should be banned
66271
post-template-default,single,single-post,postid-66271,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

FCA is free to decide whether cryptocurrency derivatives should be banned

23 Oct FCA is free to decide whether cryptocurrency derivatives should be banned

Posted at 15:25h in Cryptocurrency News by

[ad_1]

  • The UK government doesn’t want to meddle with FCA.
  • The regulator may impose a ban on digital assets if it deems it necessary.

The UK Financial Conduct Authority (FCA) is entitled to regulate the cryptocurrency industry and introduce bans on cryptocurrency derivatives if it finds it necessary, according to John Glen, Economic Secretary to the UK Treasury. 

While answering a series of questions related to digital assets, the official highlighted the independence of FCA and its authority to make decisions on cryptocurrency-based investment products and their availability for retails traders.

“The Financial Conduct Authority (FCA) made a commitment to consult on the potential prohibition of the sale to retail consumers of derivatives referencing certain types of cryptoassets in the final report of the Cryptoasset Taskforce, comprised of HM Treasury, the Bank of England and the Financial Conduct Authority, in October 2018. The final decision on this…

[ad_2]

Source link

Tags:
, , , , ,