According to a report the Financial Times, UK market regulators are planning to ban derivatives on cryptocurrencies for retail investors, warning it is “impossible” to value them reliably, and that trading them is “akin to gambling.”
A paper by the Financial Conduct Authority on Wednesday, July 3, set out plans to prohibit the sale or marketing of derivatives linked to crypto-assets such as bitcoin and ethereum from early next year.
An 18-month study of the market by the watchdog concluded that cryptocurrencies could not be valued as easily as other volatile assets such as gold or orange juice.
Full Content: Financial Times
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