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FCA looking to ban crypto derivatives

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Looks like the good ol FCA is looking to ban leverage derivatives like those we trade. Sigh. 

Consultation paper seems to be in the works. 

Like what’s the point you useless bunch of toss pots? Talk about a reg firm who are looking to expand their reach over and over again. Weird that the company who’s prime goal and purpose is to regulate and who wouldn’t be about without the need to funnel more under their umbrella...are the ones who decide what goes under their umbrella. It’s like “business is slow and the higher ups need KPIs - let’s find something that doesn’t require regs and reg it”.

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Also as a side note - what’s the point? We already have BTC futures, we have a number of ETF’s, we seem to be getting more, other crypto’s will follow... they can’t just regulate those too. Retards. 

If anything this will just once again push people offshore, switch to other leverage derivatives etc... mindless 

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@PandaFace, these stories always worry me. I read this morning that India are thinking of banning Bitcoin. I have included the article below:


Both the UK and India story are worrying but how accurate are they? How credible are the sources? There have been many instances when reports have not been entirely factual. Until the Indian Government and the UK Government confirm what the stories state and on top, these things actually happen then it could have an impact not only on Bitcoin prices but Cryptocurrency prices.

From my understanding the UK is a smaller market than the US, Japan and China for cryptos. India was a big participant in Bitcoin but India's position of uncertainty and conducting research at the moment is priced into the current price, it seems!

The one thing for sure is that Bitcoin and Cryptos move on both positive and negative news at the moment. Interesting and very uncertain times. 

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Interesting link thank you. We’re ina transactionary phase at the moment. Hopefully it rolls the right way...

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