The Financial Conduct Authority (FCA) has proposed a ban on the sale, marketing and distribution of derivatives and exchange traded notes (ETNs) referencing certain types of cryptoassets to retail clients, which it estimates could save consumers up to £234m per year.
Crypto-derivatives, according the FCA, have "no reliable basis for valuation" and high levels of market abuse and crime, while there is also a "lack of a clear investment need for investment products referencing...
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