World Federation of Exchanges Calls For ‘’Do Not Prohibit Bitcoin Derivatives’’
The World Federation of Stock Exchanges (WFE), which is a member of stock exchanges such as CBOE, CME, Nasdaq and ICE, has urged the UK’s financial regulator FCA not to ban cryptographic derivative products.
Global exchanges have urged the UK financial regulator FCA not to ban the sale of derivatives linked to crypto-assets such as Bitcoin to retail investors.
The World Federation of Stock Exchanges (WFE) said that WFE member exchanges are fully regulated by law and that retail investors are well protected.
In July, the FCA said that the sale of crypto-based derivatives was not suitable for retail investors on the grounds that the crypto-currency market was extremely volatile, and the institution was reportedly preparing a ban. The FCA was expected to announce final rules changes in early 2020. The Agency
estimates retail investors could potentially benefit in the range of 75-234 million pounds with a ban to prevent losses from investments.