The Financial Conduct Authority, fresh from contributing to the UK Cryptoassets Taskforce that issued a report on cryptocurrencies and how to regulate them, says it is considering a ban on the sale of cryptocurrency derivatives, the Financial Times reported.

The UK financial watchdog, which issued its statement separately from the taskforce report, said it would begin discussions in the first quarter of next year on whether it would go ahead with a proposed ban on crypto-based derivatives, futures and options.

In the report from the FCA, the nation’s Treasury and the Bank of England, regulators expressed concern about a “combination of market immaturity, illiquidity and a lack of available information regarding the market” that “may damage confidence and prevent both the cryptoasset market and related derivative markets from operating effectively.”

ThirtyK Staff
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