NEWS

Bitcoin Products Banned In The UK As Authorities Crack Down On Cryptocurrency

0
PROMOTE / MONETIZE YOUR SONG NOW WHATSAPP 08157053556

All firm operating in or out of the UK have been banned from selling products based on Bitcoin’s price to consumers.

That’s after City regulator the Financial Conduct Authority (FCA) announced new rules in an effort to stop honest Brits being ripped off by those taking advantage of how few people understand this new breed of “cryptocurrencies”.

The FCA’s Sheldon Mills told Mirror.Co.UK: “This ban reflects how seriously we view the potential harm to retail consumers in these products. Consumer protection is paramount here.

“Significant price volatility, combined with the inherent difficulties of valuing crypto assets reliably, places retail consumers at a high risk of suffering losses from trading crypto-derivatives.

“We have evidence of this happening on a significant scale. The ban provides an appropriate level of protection.”

The post Bitcoin Products Banned In The UK As Authorities Crack Down On Cryptocurrency appeared first on .

READ More  Government secures release of abducted Nigerian students
WATCH THIS VIDEO NOW AND SEE
iwonpopular
we promote good music and provide genuine gist content

NIMC: FG gives fresh updates, says BVN will soon be replaced with NIN

Previous article

Cerebral Atrophy: Ex-Eagles Defender, Yisa Sofoluwe Is Dead

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.