United Kingdom could ban some derivatives of the crypto
A member of the Financial Conduct Authority indicated that it is planned to make a consultation regarding this issue
Several sources claim that the Financial Conduct Authority (FCA) of the United Kingdom plans to issue prohibitions against certain derivatives of cryptocurrencies.
The person in charge of issuing these statements was the member of the board of directors and director of strategy, Christopher Woolard, who declared at an event held in London in which the regulations of cryptocurrencies were discussed.
“The FCA will consult on a ban on the sale to retail consumers of derivatives that refer to certain types of cryptographic assets, including contracts for differences, options, futures and transferable securities,” said Woolard.
The official added that so-called exchange tokens are the regulator’s “neutral” way of describing those that “use a DLT platform and are not issued or endorsed by a central bank or other central agency” and do not function as money”.
On the other hand, the FCA intends by the end of this year to carry out a consultation on the cryptographic assets that are within its regulatory competence and those that do not.
This research will analyze if the agency needs a broader mandate to “capture cryptographic assets that have characteristics comparable to specific investments.”
K. Tovar
Source: Coindesk
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