🚫 UK to study possible ban on sale of cryptocurrency derivatives
The UK's Financial Conduct Authority (FCA) said that it would launch a consultation in the first quarter of next year on whether to prohibit the sale of derivatives — such as contracts for difference, options and futures — based on cryptocurrencies to retail investors. The FCA has oversight of cryptocurrency derivatives because they are classified as financial instruments, but its powers in relation to other crypto assets have so far been unclear. The derivatives use case for crypto is currently deemed one of the use cases with the highest potential, thus whether or not the sale of derivatives is prohibited will restrict the use cases of crypto.
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