UK FCA crypto derivatives ban ignored 97% of consultation respondents
The U.K.’s Financial Conduct Authority is accused of ignoring its own consultation and cherry-picking data. Last week’s blanket banning of cryptocurrency derivatives by the United Kingdom’s Financial Conduct Authority ignored 97% of respondents to its consultation, according to the FCA’s own policy statement.The 527 respondents included exchanges and companies involved in crypto assets and derivatives, trade bodies, national competent authorities, legal representatives and individuals.The 97% who opposed the FCA proposed ban argued that crypto assets do have intrinsic value, retail....
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Privacy concerns regarding the digital euro abound as the European Central bank tests the waters for a central bank digital currency. The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative. According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding participation in a public consultation. Of the total responses, 47% came from Germany, with a....
The Financial Conduct Authority (FCA) ban on crypto derivatives sales to retail investors has set tongues wagging. It is no mystery. After a consultation process that closed Oct. 3, 2019, with 97% of participants opposed to the prohibition, the U.K. financial regulator still proceeded to issue the ban, completely disregarding the overwhelming public input. In its defence, the FCA claims to be protecting consumers and “enhancing the integrity” of the British financial system. But many within the U.K. crypto industry and elsewhere are unimpressed, perhaps with good reason. On....
Some interesting data coming from Wired Innovation Insights this Thursday. A survey that utilized 2,000 Americans as respondents show that the legitimacy of bitcoin as a force for good, outside of our community, is very in doubt. Wired notes that the survey was run three times over the course of two months, amidst the Mt. Gox disaster that ended with the exchange filing for bankruptcy protection. Perhaps the result that stands out most: 62 percent of respondents believe that bitcoin is a scam of some sort. 15 percent of male respondents believe that bitcoin is used to fund terrorism. 23....
The cryptocurrency bill that was listed to be taken up in the current session of parliament is reportedly being reworked. The government seeks wider consultation on crypto before finalizing the rules to govern digital currencies in India.
Indian Government Seeks More Consultation on Proposed Crypto Legislation
India’s cryptocurrency bill is unlikely to be introduced in the current session of parliament. The bill is not on the list of business to be taken up in the last week of the winter session of parliament, Bloomberg reported Monday, noting that the government can....
An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respective countries’ respondents believe certain obstacles are stopping cryptocurrencies from going mainstream. Crypto as Currency According to the findings of a study by Checkout.com, about 54% of respondents in both the UAE and Saudi Arabia “believe that cryptocurrency should be used as currency” and not only as “an investment asset.” This figure is nine....