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When in the final quarter of 2017 brokers have flocked to offering cryptocurrency trading to their clients, the status of the cryptocurrency instruments in the EU was not included into the financial services framework. With the publication of the European Securities Markets Authority’s decision on the 28th of March, that changed. CFDs on cryptocurrencies have officially been included as financial instruments in accordance to the law.
While trading of virtual currencies per se doesn’t constitute an activity that is subject to MiFID regulations, CFDs are different story and brokers need to adhere to certain requirements in order ... (read more)