Sunday, October 20, 2019 2:59:00 PM
https://www.ft.com/content/bfc2759e-9d77-11e9-b8ce-8b459ed04726
"Instruments linked to bitcoin and other digital currencies are ‘impossible to reliably value’, says FCA"
retail investors repeatedly cheated by greedy, derivative-manipulating speculators (aka gamblers)?...looks like regulators are on to the scam...want to put an end to it...cheaters always wreck it for everybody...eh?
"...UK market regulators are planning to ban derivatives on cryptocurrencies for retail investors, warning it is “impossible” to value them reliably, and that trading them is “akin to gambling”.
A paper by the Financial Conduct Authority on Wednesday set out plans to prohibit the sale or marketing of derivatives linked to cryptoassets such as bitcoin and ethereum from early next year.
An 18-month study of the market by the watchdog concluded that cryptocurrencies could not be valued as easily as other volatile assets such as gold or orange juice.
In one example, the FCA found that two analysts using the same pricing model arrived, separately, at bitcoin valuations of $20 and $8,000. “This makes it impossible to reliably value the derivatives contracts...linked to them,” the paper said.
The watchdog said price movements in different crypto tokens — which often move in tandem — suggested the market was “driven by speculation”, rather then technological or economic developments, and was “akin to gambling”.
As a result, derivatives that allow punters to place bets on the future direction of cryptocurrencies “are complex contracts built on top of complex assets”, said Christopher Woolard, the FCA’s executive director of strategy and competition. “Most consumers cannot reliably value derivatives based on unregulated cryptoassets,” he added..."
Recent XRPUSD News
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- Ripple CTO Denies XRP Price Suppression Accusations, Claims He Would Raise Price If He Could • ZyCrypto • 09/22/2024 05:19:13 PM
- Avalanche (AVAX) Could Rise 50% If It Breaks $28 Resistance – Crypto Analyst • NEWSBTC • 09/22/2024 02:00:17 PM
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- Ripple’s XRP Whales Scoop 380 Million Coins As Community Banks On Gargantuan ‘$27 XRP Price’ • ZyCrypto • 09/21/2024 04:04:54 PM
- Bitcoin Indicator Signals ‘Shift To Bullish Territory’ – Can BTC Break Past $65,000? • NEWSBTC • 09/21/2024 04:00:16 PM
- Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction • NEWSBTC • 09/21/2024 02:00:06 PM
- Indian Supreme Court recovers YouTube account from XRP scammers • Cointelegraph • 09/21/2024 01:24:00 PM
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- Price analysis 9/20: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 09/20/2024 05:42:14 PM
- Indian Supreme Court’s YouTube Channel Hijacked To Promote Ripple’s XRP • ZyCrypto • 09/20/2024 05:31:45 PM
- Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? • NEWSBTC • 09/20/2024 04:00:08 PM
- XRP Price Surge Could Hit 9,470% — Analyst Predicts $27 Target In Bold Forecast • NEWSBTC • 09/20/2024 01:00:04 PM
- Supreme Court of India YouTube channel hijacked to shill XRP • Cointelegraph • 09/20/2024 07:45:03 AM
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- XRP Price Battles Resistance Around $0.60: Will the Struggle End? • NEWSBTC • 09/20/2024 04:28:46 AM
- XRP Price Prediction: Crypto Pundit Predicts Historical 9,468% Pump To $27 • NEWSBTC • 09/19/2024 11:30:18 PM
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- XRP To Have ‘The Mother’ Of All Bull Runs, Analyst Sets Double-Digit Target • NEWSBTC • 09/18/2024 06:30:27 AM
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