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United Kingdom regulators ban Crypto Derivaties
On 6th of October 2020 the UK regulators from the Financial Conduct Authority (FCA) have announced a ban on sales, marketing and distribution of Crypto Derivaties. The ban will come into effect as soon as 6th of January of 2021 with only 2 months to enforce the regulations by the affected financial institutions. UK's Financial Conduct Authority has been long involved with the crack down on the cryptocurrency derivaties with publication dating back from October of 2018 aiming at introducing the ban already in Q1 of 2019 https://www.fca.org.uk/news/news-stories/cryptoasset-taskforce-publishes-report-uk-approach-cryptoassets This regulation is not a total ban on the sales, marketing and distribution of Cryptocurrencies in the UK The regulation limits to the Cryptocurrency Derivaties which include ban on the following: Futures Trading Options Trading Contracts For Difference Exchange Traded Notes The FCA argues the regulation will protect the consumers from investing into the volatile, manipulated and vulnerable market with most retail consumers allegedly having a lack of understanding in regards to the value and risk of those investments. The FCA estimates that the ban could reduce inflow of between £20 to £100 million a year coming from the UK Retail investors into the world of Crypto Derivatives. **Related Reading** BitMEX charged in the US for avoiding regulations https://www.publish0x.com/ircrp/bitmex-charged-for-evading-regulations-and-anti-money-launde-xejpewg?a=M7e5yEPRe2&tid=rr Cyber Threat On The Rise https://www.publish0x.com/ircrp/cyber-threat-on-the-rise-xwnzoqz?a=M7e5yEPRe2&tid=rr **Ongoing crypto free earn campaigns:** *Coinbase* *Earn $50 of XLM* https://www.coinbase.com/earn/stellar/invite/ztr3sqh7 *Coinbase* *Earn $50 of EOS* https://www.coinbase.com/earn/eos/invite/g9r8n305 **Ongoing crypto non-free earn campaigns:** *Crypto.com* *$50 of CRO* *once 1000 CRO staked* https://crypto.com/app/msagh7w9qq
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