The World Federation of Exchanges urged the British regulator not to ban crypto derivatives The World Federation of Exchanges (WFE), which has over 70 members, including the CME Group, Nasdaq and the Intercontinental Exchange (ICE), urged the British regulator not to ban cryptocurrency derivatives for retail investors.

World Federation of Exchanges urges British regulator not to ban crypto derivatives

World Federation of Exchanges (WFE), which has over 70 members, including CME Group, Nasdaq and Intercontinental Exchange (ICE) urged UK regulator not to ban cryptocurrency derivatives for retail investors.

According to the WFE, the UK's Financial Conduct Authority (FCA) needs to find a balance between allowing innovative products to be traded locally and ensuring they are sold responsibly by fully regulated companies..

“We are asking the authorities, including the FCA, to choose a regulatory course that will allow the market to develop and provide benefits to customers, although we understand that this will require a compromise approach,” said WFE head Nandini Sukumar.

In July, the FCA proposed to ban the sale of cryptocurrency derivatives and exchange-traded notes to retail investors, citing their extreme volatility as inappropriate for this group of clients..

The WFE recognizes the FCA's arguments as reasonable, but considers the total ban to be a wrong decision. According to WFE, cryptocurrency assets are an “evolving and growing” marketplace where consumer participation will only increase over time. FCA expected to make final crypto derivatives decision early next year.

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