Summary: The ban on the sale of cryptocurrency derivatives and exchange-traded notes to retail users by the Financial Conduct Authority (FCA) came into effect today. The Financial Conduct Authority of the United Kingdom conducted a public comment on whether to prohibit the sale of cryptocurrency-related derivatives to retail investors in November 2018, and officially announced the ...

The ban on the sale of cryptocurrency derivatives and exchange-traded notes to retail users by the Financial Conduct Authority (FCA) came into effect today. The Financial Conduct Authority of the United Kingdom conducted a public comment on whether to prohibit the sale of cryptocurrency-related derivatives to retail investors in November 2018, and officially announced the ban in October 2020. FCA stated that due to factors such as the high volatility of cryptocurrencies, derivatives are not suitable for retail consumers.

By Amy Liu