Forex Forums |

Go Back   Forex Lasers Forum > FOREX NEWS > Latest Industry News

FCA UK Crypto CFD ban now in effect

Latest Industry News

LinkBack Thread Tools Search this Thread
Old 11-01-2021, 18:43
Level V Lasers Member
Join Date: Nov 2018
Posts: 1,152
Default FCA UK Crypto CFD ban now in effect

The United Kingdom crypto CFD ban came in effect on January 6th, 2021. Since then all cryptocurrency derivatives are not accessible anymore to UK traders. The FCA implemented this ban back in October 2020. The reason was the immense volatility of these derivatives and the risk it poses for retail traders. Ripple’s recent spectacular crash is a good illustration of the FCA’s point – once the information about SEC’s lawsuit against Ripple Labs became public, the XRP token fell like a rock and depreciated with more than 60%, which was a pretty shocking turn of events.
According to the FCA, by banning such CFDs the retail traders in the UK will save up some 70 million GBP.
Frankly, if the people who are prone to investing in one risky instrument will search for another if that instrument became unavailable. Those 70 million pounds are a good sum in theory, but let’s see whether that will happen in practice.
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are Off
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
The UK 6 month stamp duty holiday may take effect immediately from Wednesday Forex News Latest Industry News 0 06-07-2020 22:08
Kremlin: OPEC+ deal needs time to have full effect on the oil market Forex News Latest Industry News 0 17-04-2020 10:36
ECB Coeure: The stock effect of our purchases will continue to be significant Forex News Latest Industry News 0 12-06-2019 15:32
The Donald Trump Effect on the US Dollar and Foreign Exchange ForexArticles Forex Articles 0 10-10-2017 01:07
Use the “mirror effect” in unpredictable markets ForexArticles Forex Articles 0 19-08-2015 18:08

All times are GMT. The time now is 09:28.

Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2022, vBulletin Solutions, Inc.