Every single bitcoin product banned in the uk as regulators crack down on crypto they can t stop you buying bitcoin or other cryptocurrencies but they can ban almost anything based on its price. The justification from the fca is frankly very weak.
Earlier this week the conduct authority in the united kingdom made the decision to ban crypto futures which finally went into effect.
Bitcoin banned uk. While other leading banks will accept transfers from. Bitcoin is not banned or illegal in the uk. The financial conduct authority fca banned today the sale of cryptocurrency derivatives to retail consumers in the united kingdom following the proposal put forward back in october of 2019.
On 6th january 2021 it became illegal for a broker conducting business in the u k. The ban includes products on cryptocurrencies such as bitcoin ethereum and xrp. The regulator claims to be defending investors money in the uk.
The short answer is no. Brits have been banned from buying a harmful type of cryptocurrency investment in the uk. Therefore it considers cryptocurrencies as btc underlying assets unworthy of trust.
The ban was announced towards the end of 2020 by the authority following after a lot of thought being put into it. Bans bitcoin crypto cfd trading. Crypto derivatives and contracts for difference cfd s product for retail investors what are derivatives and contracts for difference.
1 how the price of. Hsbc one of the biggest banks in the country does not process cryptocurrency payments or allow customers to bank money from digital wallets. In early october 2020 the uk banned trading in btc based financial derivatives and any other cryptocurrency according to a decision by the financial conduct authority fca.
To offer trading in cryptocurrency derivatives including bitcoin cfds. The uk s financial conduct authority recently stated that they would institute a blanket ban over. The sale and promotion of derivatives of bitcoin and other cryptocurrencies to amateur investors is being banned in the uk by the financial regulator the financial conduct authority fca.