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The UK Bans Crypto Derivatives
The crypto industry reacts to a big move from the United Kingdom's Financial Conduct Authority, which banned crypto derivatives.
The crypto industry reacts to a big move from the United Kingdom's Financial Conduct Authority.
STORY CONTINUES BELOW
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This episode is sponsored by Crypto.com, Nexo.io and Elliptic.
Today on the Brief:
- John McAfee arrested in Spain
- BTC addresses added spikes to two-year high
- A new election-market narrative emerges
Our main discussion: The U.K. has banned crypto derivatives.
Just days after the U.S. announced significant action involving BitMEX, the U.K.’s Financial Conduct Authority has made its own move to stop crypto derivatives.
In this episode, NLW breaks down what actually happened, and looks at the reactions from the crypto industry including:
- Accusations of hypocrisy
- Skepticism of enforceability
- Why it might actually be good for bitcoin
See also: FCA Bans Crypto Derivatives for Retail Consumers in UK
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
