FCA Does Not Want Britons to Buy Crypto on Credit
The UK’s Financial Conduct Authority (FCA) is exploring restrictions on UK residents purchasing cryptocurrencies on credit, and is now seeking public feedback on this and other proposed regulatory measures.
“We are considering a range of restrictions, including limiting the use of credit cards to directly buy cryptoassets, and using a credit line provided by an e-money firm to do so,” the discussion paper titled Regulating Cryptoassets Activities noted.
However, the British agency would exempt authorised stablecoin purchases from these credit restrictions.
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