The UK government says the Financial Conduct Authority (FCA) is firmly within its right to regulate the crypto space, amid reports of a potential ban on cryptocurrency derivatives. Per a report from Finance Feeds, the government highlighted the FCA’s independence, placing it outside the ambit of the executive.
UK Government Cannot Influence FCA Crypto Decision
As previously reported by BTCManager, the FCA was considering banning the sale of crypto derivatives to retail investors. According to the regulatory watchdog, the ban, which is supposedly in the interest of the investors, will greatly reduce the loss for consumers.
While there is a growing concern following the news of the proposed ban, the UK government stated that it could not influence the FCA’s decisions. During an…