UK Financial Watchdog May Ban Crypto CFDs for Retail Customers

An announcement published by the UK Financial Conduct Authority proposes changes to the model with which contracts for difference (CFDs) are currently sold to retail customers, including a requirement for firms to limit the leverage on contracts and eliminate monetary and non-monetary incentives with the intention of encouraging trading.

However, with regards to cryptocurrencies, the FCA wants an outright ban on retail-oriented CFDs, citing the UK Cryptoasset Taskforce’s reports for 2018.

“The FCA will consult separately in early 2019 on a potential ban on the sale of derivative products referencing cryptocurrencies, including CFDs, to r…

This article appeared first on Cryptovest

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