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The UK bans the sale of encryption derivation products; ordinary investors will face restrictions starting next year.
The UK's financial regulatory authority recently announced a major decision to prohibit the sale of Crypto Assets derivative products to ordinary consumers. This move is aimed at protecting investors from potential risks.
Regulators have pointed out that the Crypto Assets market has multiple issues, making related derivatives unsuitable for ordinary investors. The most prominent of these is the severe volatility of Crypto Assets prices, which increases investment risks. Additionally, ordinary investors often find it difficult to comprehensively assess the quality of projects and lack the ability to cope with security threats such as hacking attacks. Regulators also believe that Crypto Assets lack a reliable valuation basis, which further increases the difficulty of investment.
The ban will officially take effect on January 6 next year. Regulators expect this move to help ordinary investors avoid potential losses of around £53 million. It is worth noting that this policy will not only affect Crypto Assets derivatives trading platforms but will also impact related brokerages, investment platforms, and advisory firms.
This move reflects the regulators' concerns about the risks of the Crypto Assets market and demonstrates their determination to protect the interests of ordinary investors. With the implementation of this ban, the development of the Crypto Assets industry in the UK may face new challenges and adjustments.