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Sale of crypto derivatives banned in the UK

In the UK, the sale of derivatives and stocks linked to crypto assets will be banned from January 6, 2021.

In a statement from the UK Financial Conduct Authority (FCA). It has been shown that “cryptocurrency can hurt” by causing the ban. In the FCA statement, the ban only applies to sales to retail customers. It was emphasized that with this ban, 53 million pounds of retail customers will be protected.

Accordingly, the ban covers the sales, marketing and distribution of derivatives and exchange traded funds linked to crypto assets such as bitcoin, ether, ripple.

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Written by Maraaz

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