The Financial Conduct Authority (FCA) has published final rules banning the sale of derivatives and exchange traded notes (ETNs) that reference certain types of cryptoassets to retail consumers.
The U.K. financial regulator said it considers these products to be ill-suited for retail consumers due to the harm they pose, asserting these products cannot be reliably valued by retail consumers because of the:
The FCA estimates that retail consumers will save around £53m from the ban on these products.
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