FCA eyes retail ban on crypto-derivatives

Crypto-derivatives, according the FCA, have "no reliable basis for valuation" and high levels of market abuse and crime, while there is also a "lack of a clear investment need for investment products referencing them". The FCA also noted the "inadequate understanding by retail consumers of cryptoassets" as a reason to stop selling them to the public in an effort to prevent potential harm. Cryptoassets like Bitcoin have been in the regulatory spotlight for two years following bouts of extreme volatility, with the establishment of a UK Cryptoasset Taskforce, which already recommended th...