Euromoney receives an email from Daniel Masters, executive chairman of CoinShares, a pioneer of exchange-traded products for investing in bitcoin and other cryptos, urging us to email the UK’s Financial Conduct Authority (FCA).
Back in July, the UK regulator announced it was consulting on a proposed ban on the sale to retail investors of derivatives and exchange-traded notes referencing crypto assets.
The FCA considers these products ill-suited to retail consumers due to the underlying assets having no reliable basis for valuation; the extreme volatility in prices; the prevalence of market abuse and financial crime, including cyber theft, in the secondary market for cryptos; inadequate understanding by retail consumers and the lack of a clear investment need for products referencing them.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
