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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.

Updated Sep 14, 2021, 10:05 a.m. Published Oct 6, 2020, 7:00 p.m. 1 min read

The crypto industry reacts to a big move from the United Kingdom's Financial Conduct Authority.

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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

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.

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