UK’s chief financial regulator proposes bans on buying crypto with debt
UK regulators plan to ban retail investors from buying crypto assets with debt, citing financial risk and volatility.
The UK is introducing sweeping rules for crypto, including a ban on buying these risky assets with debt. On Friday, May 2, the UK’s Financial Conduct Authority published a new document proposing new rules for crypto assets.
The ban would include purchases made with credit cards, e-money, and any other form of debt. According to the regulators, the goal is to protect consumers in the event that these volatile assets decline in value. In addition, retail investors will be barred from engaging with certain crypto lending platforms, which the regulator deems high-risk.
At the same time,…
