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21 October 2020

First Mover: Bitcoin's Best Week Since July Shows Limited Toll of U.K. Retail Crypto Futures Ban - CoinDesk

First Mover: Bitcoin's Best Week Since July Shows Limited Toll of U.K. Retail Crypto Futures Ban - CoinDesk


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Some U.K.-based brokerages that had offered the crypto derivative products to retail traders could see a drop-off in revenue, though big cryptocurrency exchanges including Kraken say the impact is likely to be minimal.

individuals can still trade the actual cryptocurrencies, there may be some traders who will seek to skirt the rules by trading on offshore exchanges. .

Professional investors weren’t barred from trading cryptocurrency derivatives partly because they “have greater understanding of the risks and greater capacity to absorb potential investment losses,” according to an FCA report this month. .

“Those still keen on trading crypto derivatives will just find ways to open accounts in unaffected regions,” Don Guo, CEO of Broctagon Fintech Group, told CoinDesk in an email.

“There is a stark risk that retail traders will simply trade on unregulated exchanges, which in fact puts them at more risk.”.

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