FCA Clarifies Stance on Cryptocurrency Offerings, Only Derivatives Regulated
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FCA Clarifies Stance on Cryptocurrency Offerings, Only Derivatives Regulated
The UK’s financial watchdog, the FCA, has issued a new statement today, clarifying the regulator’s stance on offering cryptocurrency derivatives. The document outlines that companies that are providing cryptocurrency derivatives need to be authorized financial services providers.
Such instruments include cryptocurrency futures, CFDs (Contracts for Differences) and options. The move is cementing the stance of the UK regulator towards offerings outside of physical (or better said digital) cryptocurrencies.
Offering Cryptocurrencies
The regulatory obligations of the UK watchdog currently do not include the cryptocurrencies themselves. At present no legal framework is available to mandate the FCA to supervise the distribution ... (read more)
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