UK Ban of Crypto CFDs

[topdog20]

The UK's FCA has just announced a ban on the sale of crypto-currency derivatives (such as CFDs) and ETNs to retail investors from January 6th 2021.

https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers

Brokers such as IG have already announced that traders' positions will become sell only from that date onwards.

This will prevent a fire sale and collapse in prices, but how do you think this will affect prices going forward? The US is also heading in the same direction.

 

[Enivid]

That news is 2 months old. It won't affect the price of cryptocurrencies, but it will affect the profitability of CFD brokers and the ability of UK traders to trade cryptocurrencies via CFD.