The UK’s markets regulatory authority has proposed a ban on financial instruments connected to digital cryptocurrencies such as bitcoin, alerting that such items could cause substantial losses for retail consumers not likely to understand their risks or worth.

The Financial Conduct Authority (FCA) stated products such as derivatives and also exchange-traded notes (ETNs) that reference crypto-assets were “improper” to small investors.

It mentioned their “severe volatility”, the difficulty in valuing them, consumers’ irregular understanding of what they were purchasing and also the raised risk of monetary criminal activity.

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